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Eurjpysetup

EURJPY Set To Resume The DowntrendHi Traders, The last time I wrote about EURJPY, it was about to break out of the ending diagonal pattern. A few days later, the price has broken the pattern and trade lower sharply in what can be seen as the first wave of the impulse. According to EW theory, an impulse is followed by a correction before the price resumes in the direction of the impulse. So the recent rally can be seen as the correction and if it's completed, the price should trade lower below wave (i) in the days ahead. What's your view on EURJPY? Let me know in the comment. Thanks for reading!
Short
by Veejahbee
EURJPYAs I said last weeks...If we make a parallel between the chart on a week and one month we can see as EJ Pattern Pattern formed since 2018! In the 1 week chart we observed that this is a very important area for EJ's near future ... if you see in the left circle, any closure even for 1 day over the green line means an imminent climb in the 137,300 area However ... if the month of May closes below 134,050 then we can take into account a very strong retreat movement up to the 125,000 area and so on ... UP AGAIN! anyway ... it looks like it will be the first time in 15 years when EJ ends 7 consecutive months on GREEN THIS WEEK...as I was telling you last week, EJ rejected from the very strong resistance formed in the last 4-5 years and from the Fibonacci 786 area on the 1 month chart! From here ... I will only look for SELL for at least 400-500 pips until the first close even for 1 day over 134,050 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
by BloomFX_SIGNALS
1
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.
by ForexWiseWay
3