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Eurjpysell

EUR/JPY breaks 200-DMA support, slips below 131, stay shortEUR/JPY breaks below strong support at 200-DMA at 131.23, bias lower. The pair has slipped below 131 handle to hit session lows at 130.89 (lowest since Sept 15 2017) Technical indicators are bearish. RSI and Stochs are biased lower. We see -ve DMI dominance. Momentum studies are heavily bearish, but Stochs are in oversold levels so caution advised. Violation at 200-DMA raises scope for further weakness. Scope now for test of 38.2% Fib at 128.85. On the flipside, retrace and close above 200-DMA could see some consolidation. Breakout at 20-DMA invalidates bearish bias. Support levels - 130.60 (Sept 15 low), 129.37 (Sept 6 low), 128.85 (38.2% Fib retrace of 114.85 to 137.506 rally) Resistance levels - 131.23 (200-DMA), 131.35 (5-DMA), 132.15 (23.6% Fib), 133.16 (20-DMA) Good to go short on rallies around 130.90/131, SL: 132.15, TP: 130.60/ 130/ 129.40/ 128.85.
Short
by FxWirePro
EURJPY profit target reached perfectly, prepare for further dropSell below 135.14. Stop loss at 135.53. Take profit at 134.28. Reason for the trading strategy (technically): Price has dropped perfectly as expected and reached our profit target. We now see major resistance at 135.14 (Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down towards 134.28 support (Fibonacci retracement, horizontal pullback support). RSI (34) sees a bearish exit recently signalling that we should be expecting some bearish momentum in line with what we’re seeing in price.
Short
by MEX_Exchange
1
EURJPY H4 *Potential Head & Shoulders Pattern*Currently have what looks like a retracement on the downtrend with EURJPY , up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for a break of the neckline and re-assess how it looks then, if it is all good then I could short down to the supply / demand zone which has been proven to be a strong turning point for this pair over the past few weeks. NFP today to so it could blow everything out of the water!
Short
by JordanWillson
EURJPY H4 *Possible Head & Shoulders*We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting this down to the 131.000 psychological level. Then look at potentially a long if the pattern completes.
Short
by JordanWillson
Shoring EURJPY - Excellent risk/rewardI haven't posted in a while on TV and I will keep it that way as I am to busy with coaching and analysis on my personal blog, however I will try to post a trade idea a week here too. Today I am shorting EURJPY, even tough the EUR is pretty strong in todays EURO/UK trading session and even in the US session, I expect/believe (based on my analysis) that EURJPY is at a key resistance level, ofcourse I am no guru and my analysis is many times wrong, not becasue its not solid, my method is excellent, but nothing can be 100%. Right now I have two technical reasons to short the pair, 1. Price action is testing the recently broken, short-term, trend line 2. Price action is at the 30% level from the recent high to the recent low Looking at the EUR I see plenty of reasons for uncertinaty as I believe the Catalonian's will not let go lightly and I expect riots to slowly begin in the Barcelona region and around, the people of Catelonia want an independace from Spain and the Spanish goverment used plenty of force which in return injured many people, these people have all circles of family and friends around them which are rigth now "pissed off" with the police and the Spanish goverment, since their family, friends, loved ones got hurt for trying to vote. This "cause" can turn into an "effect" and that effect is possibly, riots. We have on going terror attacks in Europe which have recently not affected the markets (going back to 2016 the terrorist attacks caused issues to the EUR) so I am not expecting terror attacks to hurt the EUR unless its something BIG. In terms of the JPY, again fundamentally, the tensions in the Korean peninsulla are giving a boost to the YEN and I fully expect the tensions to continue so I expect a rapid rise in the YEN coming soon. So there you have it, a little bit of fundamentals and a little bit of technicals. My SL is tight and my TP is targeting only the 1st of 4 take profit levels. The take profit levels are listed below. TP1: 131.300 TP2: 130.515 TP3: 129.770 TP4: 129.025 PS: Apoliges for any spelling mistakes, im rather busy to go over what I wrote a second time. Size those pips!
Short
by PipsMatter
EURJPY - Short on Dovish DraghiWe have a lot of EUR news due out tomorrow together with a speech from Mario Draghi, the President of the European Central Bank. His comments alone will move the market and we are hoping for an alignment with the PMI data due out later on in the morning. This will give us a great trading opportunity on the EUR throughout the rest of the week. We are planning a short trade on the EURJPY should we see and hear dovish sentiment from Draghi. The Yen has been the stronger of the two currencies over the past week, and over the past month, and is currently sitting at resistance.
Short
by Mase_00_7