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Eurjpylong

EURJPY looks poised for another 200 pips in MayWith this month ending in a few days, I'm preparing for May. The yen looks the most definitive heading into may, and it looks bearish overall, with that in mind, combined with EUR strength, EURJPY should rise. When we look at structure you can see that we have what I will call "never ending exhaustion" EURJPY, looks like its getting tired, but it just keeps going up in a ugly fashion. I hate this type of behavior to be honest lol. I think the next logical price we see actual sell momentum step in is at the green prices, or just above them. Until then I'll be watching the H1 and H4 for buy opportunities. The way we tested the prior point of control tells me the banks added more buying positions, and will continue for the next week or two. You don't need to predict the next 4 moves in the market to make money. You just need high probability. EURJPY looks highly probable for 150-200 pips, now just drop down on the smaller charts and pick it apart until those pips get eaten. Logic: Institutions need to close positions at the red line. Green lines are where possible retail buy limits are sitting. Good luck, -Gio
by elevatedinvestor
Extreme trader sentiment points to possible EURJPY uptrendThe Trend Follower Strategy has just bought EURJPY at 130.681. The system recommends entering this trade at any price between 130.531 and 130.831. The signal was issued because our Speculative Sentiment Index is extremely positive, with a value of -1.519. This suggests that the EURJPY could be trending upwards.The 14-period Average True Range on a daily chart is 0.6, so the stop loss has been set at 130.081. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Trend Follower is a trend trading strategy that aims to buy and hold rising currency pairs and to sell short and hold falling currency pairs. The strategy looks to buy when the Speculative Sentiment Index is below -1.5, and looks to short when it is above +1.5. Signal ID: 75873 Time Issued: Tuesday, 27 April 2021 00:00:15 GMT Status: open Entry: 130.531 - 130.831 Limit: N/A Stop Loss: 130.081 Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here. Past Performance is not an indicator of future results.
Long
by FXCM
2
EURJPY: Break and retest entryGood morning all, as we can see EURJPY is currently retesting the same key level which shows there is a large number of bulls trying to enter the market.... However, let's not have itchy fingers and place a buy order on the break... I say we wait for a retest and failure for bears to push the market back below the current key level will give me a solid sign that price will move in our favored direction. I will enter twice should both opportunities arise.
Long
by Ridgy4X
EURJPY - Bullish BiasEUR - BULLISH 1️⃣ The European Central Bank left monetary policy unchanged and maintained its pledge to increase support if needed. 2️⃣ Market participants see the next reassessment of the PEPP flows being in June, and the decision on what to do with the PEPP after March 2022 likely to be taken in September. 3️⃣ Optimism about an economic recovery continued to be supported by signs of an acceleration in the vaccination pace in Europe. JPY - BEARISH 1️⃣ Rising US Treasury yields could undermine the safe-haven JPY. ===== Technical ===== - We are buying the EURJPY at RBS on the M15 chart. This is short term trading strategy from Monsun Asia. - Risk reward ratio is 2:1. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia