EURJPY may be correcting lower soon. 16.5.2021I posted an EURJPY uptrend idea before.
After reviewing the price action for the last few days, it seems like an ending diagonal is forming at around 132.8-133.2 area. If this is the case, EURJPY may enter wave (4)-yellow corrective wave, which can bring price down to 128.50.
I prefer to see an impulsive drop before entering short so lets wait and see. A break of wave (3)-yellow trend line would be indicative for the drop has begin.
After all, the uptrend is intact even after this possible correction.
Eurjpysell
EURJPY, 1hr chart, ending diagonal / rising wedge
As you can see price making a rising wedge pattern or ending diagonal depending on your view using chart pattern or elliott wave.
Overall both patterns target is around 131.70-60 which is the bottom of wedge/diagonal.
Sell EURJPY 132.80
Stop loss 133.10
Take profit 131.70 (3.6R)
Use only 1-2% risk
Good luck
Chance of a correction lower in EUR/JPYEUR/JPY can correct lower in the next couple of days after this recent rally.
Price action is slightly tilted to the bearish side now with two consecutive 4 hour candles
turning bearish.
A sell entry@ 132.60-132.85 with SL above 133.20 and TP at 131.70 could be a potential
short set-up.
EUR/JPY Short Setup To Catch More Than 150 Pips !This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
EUR/JPY New Short Setup To Catch Free 300 PipsThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
EURJPY - FOREX - 26. APR. 2021Welcome to our weekly trade setup ( EURJPY )!
-
1 HOUR
Bullish reaction towards main sr level.
4 HOUR
Expecting bearish pressure now.
DAILY
Looking forward a bearish price break..
-
FOREX SETUP
SELL EURJPY
ENTRY LEVEL @ 130.420
SL @ 130.900
TP @ 129.750
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
EURJPY - SHORT; SELL the Monthly Resistance here! ......despite the heavy docket next week. (BoJ rate decision, EU data dump, etc.) The upcoming data has a virtually zero chance to fundamentally alter the overall picture, either for the EU or for the BoJ.
Much more importantly, technically this is a solid SHORT Entry here with low risk. (Despite the likely volatility.) If the trade is wrong, you'll know it right away.
Note: This post also serves as a replacement/update for the previous EURJPY post which was erroneously updated, earlier last week. (See attached)
EUR/JPY downtrend may accelerate furtherThe resistance area in the daily chart of EUR/JPY appears to be holding well.
We have got multiple rejection/bearish candles in the resistance area with long wicks
at the top.
This indicates that the sellers are gaining an upper hand while the bulls are losing momentum.
If this continues, EUR/JPY can drop as low as 128.
So, depending on bearish price action, sell EURJPY@129.80-130.30 with SL above 131
and TP at 128.15
EUR/JPY Finally Closed Below Our Res & New Short Trade AvailableThe Price Finally Closed Below Our Res Level 130.000 With Daily Closure And Short Trade Is Available Now
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
EUR/JPY reversed from the resistance once again, time to drop?Overview - EUR/JPY has been unable to break the resistance level for the last
two weeks but bears have not been able to capitalize on it yet. However, yesterday's drop
seems encouraging for the bears.
Analysis - From the chart, you can see that, yesterday's daily candle was a big
bearish candle with a long wick at the top. So, it is quite likely that price will continue to
go down now.
Probable trade set-up - I have already published a signal to sell EURJPY@130.50-131
last week. So, if you followed it then continue to hold the trade. New sells can also be executed
if price visits the resistance level again.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
EUR/JPY New 2 Short Setups To Who Missed The First One This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions