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Eurjpysetup

EUR/JPY Now Rising Off SupportThis is now rising from the support I marked out on this pairing 3 days ago. Unfortunately for those that may have entered the long when I posted it may have just touched the SL, hopefully it just avoided as it is now rising again. MACD is set to go bullish above 0 and EMA's are about to cross over. I have set TP at the previous high of 127.344. SL just below the recent lows on support. Keep in mind there is a very major downward trendline just above. TP - 127.344 or at trendline SL - 126.050
Long
by olly48
EURJPY | Perspective for the new weekSince my last publication on this pair (see link below), it appears the Resistance level @ Y126.620 is not holding as price finally breaks out of this level last week to find a new Support level (Demand zone). Despite Europe having a lead over Japan when it comes to vaccination; The unfolding Covid-19 situation and other global events might have its toll on this pair in the coming week as both the European and Japan economy continues to struggle to contain the Covid-19 pandemic. Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand | Channel Observation: i. Since December 2020, price action has been caught within a channel of Supply and Demand ranging between Y126.000/127.000. ii. A breakout of this channel last week sets a new tone to the trend and might be the continuation of the rally that has gripped this pair since mid-last year. iii. In the coming week, I shall be looking out for a possible correction which might deep into Y126.400/127.000 area for an opportunity to go long. Trading plan: BUY confirmation with a minimum potential profit of 140 pips. Risk/Reward : 1:4.5 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
5
EURJPY – Short sell opportunity in progressEURJPY right now is in a interesting area. It has reach the top area in daily TF that got touched at 1st September high (daily inflection point). Whats more interesting is the price got rejected impulsively as soon as it touched the area. In lower TF,now the price is looking like forming a possibly bearish flag structure. If this this corrective structure really shape into a bearish continuation structure in upcoming few hours / days, I will wait for a break of this continuation structure to confirm the move to the downside with SL above the structure. Afterall, this trade is still in forecast, and if the continuation structure failed to form than I will skip this pair for a little while as it havent tagged my ultimate high area for selling at 128.000 For now, lets see how will this pair develop. Good Luck __________________________________________________________________________________________________________________________________________________________________ Here is the MOA FX technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger. __________________________________________________________________________________________________________________________________________________________________
Short
by moa_trading_journal
Hi traders. Possible bull trap formingHello Traders, Avramis Swing has suggested a possible Bull Trap forming on EUR/JPY H4 Chart @125.774. The Fibonacci levels outline potential targets, with an invalidation level at around 126.729. Let us know your thoughts in the comment section below. We will execute this trade once all our rules are aligned. We suggest keeping this pair on your watchlist. Trade Details Entry: Sell Stop @125.774 Stop: 126.729 Target 1: 125.211 Target 2: 124.256 Target 3: 122.699 Time Frame: H4 Trend: Down Pattern: 11 Overall score: 5 We suggest closing half your position @Target one and moving your stop loss to the breakeven level. Leave the remaining position for Target two.
Short
by AvramisSwing