Eurjpyprediction
EURJPY 4H TECHNICAL ANALYSISWe see the price will retrace to 120 level before moving down to 117.50 - We sell this pair at 120 level to book profits at aforesaid level, BUT, it is also possible to grab 100+ PIPS of correction by taking long position from the closing price.
EURJPY The ABCD pattern show the D price is 118.15On day chart the Price have reach the 50% Retreated level
On 4H chart the RSI below 30(show oversold)
The ABCD pattern show the D price is 118.15
Good luck
what's most importantEURJPY found support last year at the lower bound of a multi year channel (109.50) and a swift recovery has taken shape since then. It headed towards an intermittent hurdle near 124 the 76.4% retracement from march2016.
Currently the pair is retesting the channel limit at 11.70 in what appears to be the fourth wave from an elliot perspective. With the daily indicators closing in on support 119.70 should contain nearterm downside.
A break above will take it towards 122.50/123 with the next handle at the recent high of 124.
eurjpy daily chartAs mentioned in previous post we found support last year at the lower bound of a multi year channel at 109.50 and a swift recovery has taken shape since then.
A recovery appears plausible towards 121. A break above will take it towards 122.50/123 with the next handle at 124.
All the best and trade with care.
Thanks for your support.
EURJPY possible head & shoulders patternEURJPY is forming head & shoulder patter, it could bounce at 61.8% fib support and left shoulder low at 119.32 and target 121.20. A break above this level will target 123.30. SL can be place below 88.6% fb support at 118.50.
EURJPY : Potential Short EntryI would see price come back again to this Supply area, possibly break or reject.
I would suggest a short position when price hit into the zone, and make a short retracement or reversal. I will update further the target for this short entry when time comes.
adios.. happy trading
Possible inverted Head and ShoulderEURJPY making an inverted H&S, if it break the neckline then it's confirmed and i'll try to enter on a possible retest.
EURJPY bouncing nicely, remain bullishBuy above 118.70. Stop loss at 117.47. Take profit at 120.66.
Reason for the trading strategy (technically):
Price has bounced off nicely at 118.70 support (Fibonacci retracement, horizontal support, Fibonacci extension). We look to buy above this level to play a push up to at least 120.66 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 6.4% level.
EURJPY : Buy Position Just Opened.The pair kind of rejected to one strong support key level right now.
Exactly rejected the previous lower zone.
It seems to reach TP1, if break then continue to TP2 or comeback to break the key support level.
My analysis in here seems to be exact the same in my analysis in MTP Predictor software.
The price just rejected the Decision Point. You may refer to the following SS.
prntscr.com
Good Luck and Happy Trade.
EUR/JPY - LONG POSITION OPENING! - HIT DAILY SUPPORT (RESPECTED)
- WILL SEE IF IT HITS THE SECOND TP
- TREND HAS CHANGED TO BULLISH TENDENCYS
- BROKE 1HR TREND LINE TO THE UPSIDE.
2% on this trade.
EURJPY WEEK#7 : 1st Pending Order SetThis would be my first PO this week for EJ. Daily momentum still STRONG BEARISH.
Price find higher position before continue his trend. I wish mine is right.
Happy Trading..
EURJPY remain bearish at major resistanceSell below 121.09. Stop loss at 121.86. Take profit at 119.65.
Reason for the trading strategy (technically):
We remain bearish below 121.09 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to 119.65 support (Fibonacci extension, horizontal support, recent swing low support).
Stochastic (34,5,3) has reacted off our 92% resistance level perfectly and continues to see resistance there.
EURJPY - LONG TERM WEEKLY ANALYSIS !!We expect the price will move upwards in the long term weekly technical analysis.
Take Entry @ 123.30
Take Profit @ 128.20
Stop Loss @ 112.61
EURJPY 1H TECHNICAL ANALYSISWe believe that the price will zig zag between 119.90 and 121.20 and than fall
EURJPY right above strong support, remain bullishBuy above 119.62. Stop loss at 118.63. Take profit at 121.08.
Reason for the trading strategy (technically):
Price held at our buying level perfectly yesterday. We remain bullish above 119.65 support (major horizontal support, Fibonacci retracement, EURUSD positive correlation) for a push up to 121.08 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 6% level.
