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Eurjpysetup

Possible Long on EURJPYPerfect Gold setup here. I think this could be an 80 pip long. Here's why... 200-EMA holds as the price bounces off it in the support zone price seems to be breaking the counter-trend and continuing the overall up-trend price dipped into the oversold region on the MFI indicator which hints at a possible reversal Always trade at your own risk. I would take this analysis on the 4-hour chart and go down to the 1-hour chart to draw up key-levels which I'd use to place my entries and exits. Will continue to
Long
by FXTwentyOne
1
EURJPY possiblr rangeA possible trade set up for EURJPY. i believe there is further downside available in EJ, mainly because of the impeachment trial in the U.S starting next wee,k which may help boost demand for safe haven assets. the bounce could coincide with the lighter than usual trading volume in the U.S Monday because of the holiday. We also have the BOJ rate decision Monday evening and press conference that may weaken the yen, in my opinion, as I don't expect the BOJ to be hawkish. Moving forward we have the trial beginning on Tuesday and paired with the return of volume we may see a continuation of the drop which would coincide with an ABC correction in the near term. From there it becomes a bit more difficult as we come into a demand zone and longer time frame trend line. A break below the trend line and a daily close below it certainly suggest further downs side is possible. Any time price is over 122.50 it is bullish in my opinion, but there may be near term resistance in 123.25 area that pushes price down slightly to retest the 122.50 area; before continuing up in an attempt to close the gap. I see a strong resistance area up top so any over shoot of the gap may be contested . not trading advice. just my perspective. happy trading
Short
by Entrenched
6
EURJPY SHORT IDEAAfter the liquidity spike we saw on the daily we can now see the market is shifting in to bearish market on lower time frames. However overall the market is still bullish on Higher time frames. Price has already retraced and rejected the 78.6 fibbo level since then we have created a head&shoulder pattern for extra confluence to support my short idea. I’m now looking to see if we can print a new lower high to test the neckline of the H&S. I’ll monitor price action for confirmation. So far looks good to me as if you look at the daily you can see the candle stick formation is bearish.
Short
by waynetrades94