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Eurjpysignal

EURJPY | Perspective for the new weekWe were unable to open a Bearish position in my last publication on this pair as the price continued to find a higher level ( see link below for reference purposes) but the current structure transposing into a Head & Shoulder - a strong reversal pattern suggests that the bears might lead to further decrease in price in the meantime. Tendency: Downtrend (Bearish) Structure: Reversal pattern (H & S) | Supply & Demand Observation: i. It is obvious that the price has continued to climb high for the Euro since the beginning of the year 2021 and it appears to be at a juncture where we might consider the beginning of a temporary correction after observing the appearance of a Head & Shoulder pattern. ii. Head & Shoulder: A baseline with three peaks; the outside two are close in height and the middle is highest describes a specific formation that predicts a bullish-to-bearish trend reversal. iii. The later part of last week witnessed price breaking down Y132.800, a level which held price "Supported" (Demand zone) in the last 17days with clues suggesting a risk of further decline in the nearest future. iv. In this regard, I have identified a niche for selling opportunity around Y133.400/133.000 should the price climb up early in the new week. v. Below Key level II @ Y132.800 might be a level for conscious trading as price running below the Neckline gives succour for Bearish momentum... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward : 1:3 Potential Duration: 3 to 7 days 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. 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
EURJPY D1After hitting the bottom of the canal, it will reach a level of support and we expect the Saudi trend to resume. But we have to wait and see how he reacts when he hits the bottom of the canal. If there are 2 or 4 daily candlesticks on the floor of the channel, we propagate again to the next level as shown in the chart. Transaction entry range : 132.000 - 132.200 stop lost : 131.600 take profit : 136.680 This is a personal analysis and be careful when entering into a transaction and also check the economic news. However, when entering the trade, use the price action method and candlestick patterns. Best Regards
Long
by moradimehdi595
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
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