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Eurjpysignal

EURJPY LONGEURJPY has been moving in a down trend for serval day. Current price action suggests that the pair might be in for a short term bullish correction. The patterns we spotted which are in line with our short term up trend basis include an inverse head and shoulders pattern in Daily and H4 time frames with the H4 being the more clearer. We have also spotted a trendline breakout, close and retest followed by a change in market structure by the breakout, close and retest of our key level. The target for this particular trade is around the 132.6**The risk reward for the trade currently stands at around 6.81 to 1. We plan to hold this particular trade until out target is reach or close manually as per the rules of our trading plan.
Long
by NDOBObanks
2
EUR/JPY Short Opportunity: Heading to its trendline resistanceFundamentally EUR is under pressure because of the Russia-Ukraine war. But JPY is also weak a lot. As a result EUR/JPY has advanced nearly 650 pips from its recent swing lows. There is no credit for EUR in such up. Just because the JPY is too weak. "The longer the war continues, the more likely it becomes that the real economic and inflationary effects for the eurozone will be significant. And that is why that prospect is negative for all EUR-related pairs. EUR/JPY is one of the major indicators for the stock. If EUR/JPY drops, I have seen the stock also drops. That's why investors use EUR/JPY as a stock indicator. European countries invest more in the military, defense, and security sectors than their economy. So, if the Russia-Ukraine war keeps continuing, the European economy will harm a long time. So, I don't think EUR will remain strong against JPY based on the present condition. So, if we get EUR/JPY in trendline resistance level, there could be a good chance to short EUR/JPY. ER/JPY short zone ( Trendline Resistance Zone): 132.50/133.00 Stop Out level: Above the trendline resistance level and high swing zone: 134.30/134.50 Target zone 1: Immediate trendline support: 130.00/129.85 Target Zone 2: 127.50/127.00
Short
by Gold_Trading_Expert
1
EURJPY Short - Risk/Reward 1:2.5 - mid-termShort setup for EurJPY : With the money flow index and RSI decreasing on the 1W weekly frame, and after a strong reversal from 7th March lows (124.4), EurJpy is expected to see a selling pressure in price levels between 132 and 133. These price levels lie between a strong 1W Finbonacci level and the trendline joining the highs from june 2021. We look for taking short positions between 132.2 and 133. SL = 1D close above 134.3 which signifies further bullish continuation towards 137. TPs and proposed %s for closing the position: TP1 = 130.5 (20%) TP2 = 128.9 (30%) TP3 = 128 (20%) TP4 = 127 (20%) TP5 = 126.5 (5%) TP6= 125.3 (5%) with an effective closing position around 128.3 (+400pips) this short opportunity represents a Risk/Reward ratio of 1:2.5 Good luck samurai
Short
by Samurai_07
EURJPY | Perspective for the new weekSince my last publication on this pair (see link below for reference purposes), prices have continued to spiral downwards thereby emphasizing a downtrend momentum as the JY129 area remains the significant level keeping price under. Despite hawkish ECB, the meeting might fail to offer the Euro a lift anytime soon as I suspect that the bears are about to project into the lows in the region of 124.00 area in the coming week(s). Tendency: Downtrend (Bearish) Structure: Supply & Demand | Trendline | Reversal pattern (Double Bottom & Breakdown) Observation: i. Jumping in on our 4H timeframe; it is obvious that price action has continued to find lower lows since the 10th of February 2022. ii. A visual representation of a trend after connecting a series of prices with a line drawn above pivot highs shows the prevailing direction and speed of price in the last month. iii. The successful breakdown of the JY129 areas which has held price "supported" since the last quarter of last year emphasizes the seller's power at this juncture in the market. iv. During the course of last week's trading session, we witness the Euro grow 3.70% against the JPY only to find a significant resistance at the key level (JY129) on Thursday and Friday with a reversal set-up emerging within an area that is peculiar with selling potentials. v. Now, the appearance of a Double Top structure within the identified Supply zone which also shares a confluence with the bearish trend describes a potential trend continuation if we finally see a breakdown of the Neckline around JY127.5 in the new week. vi. In as much as anywhere below key level appears to be a comfortable area to sell considering current structure, it is advisable that we hold and wait for a breakdown of neckline to join the potential decline... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:5 Potential Duration: 4 to 8days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored... I shall be sharing a video of how I am going to take advantage of this trade if the price goes as planned on my new jou tube channel. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
Short
by darcsherry