EurJpy to rise to 132 resistance?EurJpy is in a clear uptrend for quite some time now and, from the beginning of the month the pair is consolidating gains just under 130 important figure.
In my opinion, this resistance will fall and EurJpy will rise to the next resistance at 132
That being said I will search for opportunities to enter long on dips around 129 support
A dive under 128 would negate this bullish scenario
Eurjpyprediction
EURJPY AnalysisAs we can see EJ is beginning to struggle to make HH and has formed a double top. Now we will let the market open of course and see which one of the 2 trades we will be taking.
Highlighted in green is of course the bullish trade I will be taking.
Highlighted in red is the possible bearish scenario we could trade on.
Let me know your thoughts on EURJPY below guys 8)
EURJPY SELL | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for SELL. GOOD LUCK! Great SELL opportunity EURJPY .
I still did my best and this is the most likely count for me at the moment.
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EURJPY SHORT TERM SELL, LONG TERM BUY ProjectionTechnical Analysis
1. Rising Wedge forming
2. Hit Level 1 of Fibonacci Expansion Level
3. Completion of a Flag Pattern Take Profit (Of the Flagpole breakout) on shorter timeframe smaller timeframes (Circled in WHITE)
4. Market is expected to break out of the trendline, hitting our Fibonacci Expansion Level of 1.618 which would push down the market to an area of confluence
5. Using the new Highest Point from the Fibonacci Expansion Level of 1.618 and Rising Wedge Peak, we would project the fall to the new Fibonacci Retracement Level
How I would approach this.
1. Sell to 127.150
2. Buy from 127.150 to 136.250
3. Sell from 136.250 to 124.270
EURJPY - Diagonal PatternIn the weekly chart, the Triangle pattern is broken and the uptrend is almost being confirmed
(Weekly Chart )
In the daily chart, by completion of Wave 2 in the range of 114.39, the uptrend has started in Wave 3, price is currently in this wave of which the targets of the uptrend can be in the range of 133.
(Daily Chart )
In the 240-minute chart, the wave counting has shown that, corrective movement of wave 2 from sub-waves of wave 3 has been finished in the range of 38% Fibonacci ratio. The most important point is that the Diagonal pattern has been shown in the one-hour chart.
By crossing the price from the range of 128.66, this scenario will be confirmed.
EUR/JPY Signal (H4 Timeframe) Looking BullishHi Traders
EUR/JPY Signal (H4 Timeframe)
A medium to high probability, entry to go LONG is forming @ 128.443 after the market found support @ 127.300. Only the downward break of 127.300 would cancel this bullish scenario.
Trade details:
Entry: 128.443
Stop loss: 127.300
Take profit 1: 129.117
Take profit 2: 130.260
Take profit 3: 132.123
Score: 9
Strategy: Bullish Breakout
EurJpy- I expect a violent break to the upsideThe long term trend for eurjpy is clearly up and the pair is consolidating gains for over 2 months now.
If we ignore the false break of 126, the range is pretty tight, between 126 and 127.
Now the pair seems to press on resistance and I expect a strong break and acceleration
My target for long position is 130 and only a daily close under 125.50 would change my mind