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Eurjpysignal

Range-bound EUR/JPY: Is Distribution in Play?A few days back I discussed UsdJpy, saying that even though there is a high divergence between FED's and BoJ's policy, at the same point the pair could reverse hard. In EurJpy's case, however, things are not exactly the same and technically, we even have strong signs of topping. Looking at the h4 posted chart we could see that for a month and a half now the pair is in a range and in fact, it looks like pressing down so it could be in fact, distribution. That being said, as long as 158.50 is intact, I looking to sell rallies in anticipation of a break under support. As for the target, 153 is a pretty reasonable one if we have a genuine break
Short
by Mihai_Iacob
2
EURJPY; Trade what you see, not what you think!(It is time to start a fresh EURJPY post - once again -, the previous one(s) having grown too long to remain practical.) The Weekly - With special attention to the two, most recent Hammers; The Daily - With it's completed H&S, including the neckline break; (All the visible patterns were also updated on these charts due to some earlier inaccuracies - misalignment - which snuck onto the previous versions of these charts - mostly on the higher time frames.) Actively looking for a SHORT Entry here! (if not Short, yet.)
by Nemo_Confidat
2
Sell EUR/JPY if 4Hour resistance Holds(Entry, TP and SL below)Hello everyone, EUR/JPY is struggling to break the resistance level indicated in the 4Hour chart. 📌We have 4 consecutive candlesticks with long wicks at the top. 📌Price is currently below the EMA on the 4Hour chart. This gives us a slight bearish bias for the 4Hour Timeframe. 📌If price continues to stay below the (resistance zone + EMA on 4h chart), we can consider selling EUR/JPY@157.82-157.92 with SL near 158.10 with initial TP at 157.38 and final TP at 156.70
Short
by MarcellusLUX
Double top on EUR/JPY hourlyLast week we outlined a bearish bias on the daily EUR/JPY chart, due to its elongated bearish candle below 160 following an established RSI divergence on the daily chart. The 1-hour chart shows a strong move lower from the August highs, followed by choppy price action and a lame attempt to recoup half of the losses sustained from the initial drop - which suggests it is a corrective move. momentum has turned lower on the 1-hour chart, so the bias on the 1-hour chart remains bearish below 158.53 and for an initial move to 157.80. We also expect lower prices given the structure on the daily timeframe.
Short
by CityIndex
EurJpy could lose supportSince the end of February low under 140, EurJpy rose strongly, more than 2000 pips and almost touching 160 important figure. In August, the pair consolidated, and this consolidation could very well be distribution. Now the pair is trading under 157 zone support and a daily close under this support could lead to further losses. As long as the 158.70 high is intact I'm looking to sell rallies with a target at 154 support. In the medium term, however, the pair could drop even to important 151.50 support.
Short
by Mihai_Iacob
10
EURJPY 30m Analysis. Day trade signal!Hello everyone. I want share my idea about EURJPY pair. Couple weeks ago we this pair was in 2008 strong weekly sell zone after strong price up movement. from here we got 2 rejection at high timeframe, when it touch second time it made some liquidity and came strong down. i am not saying EURJPY will change trend but i think we will have some price correction here which is good for day traders for catch some movement. Second reason i think this pair is short JPY index after big rally downside it stopped and i think it time for start correction. Here is my signal setup. Open position - 158.240 Stop loss - 158.600 Take profit - 157.000 At my profile you can see my another signals and ideas. Good luck everyone! Manage your risk!
Short
by elmakacho
EUR/JPY Long A Break above creates more Buy PressureEUR/JPY is looking overbought on higher timeframe charts as it tests once again a tough barrier at the 2014 high of 149.75. Looking at the Directional Movement Index (DMI), the rebound from mid-May appears to be a consolidation, rather than the start of a new leg higher. The Plus DMI and Minus DMI are under 25, suggesting non-trending/range conditions. However, unless the cross breaks below 145.50-146.50 (including the 200-period moving average on the 240-minute charts) the bullish pressure is unlikely to fade away. Major Trend is Bullish
Long
by DaveBrascoFX
EURJPY: Today!Last week, the EUR/JPY pair surpassed the level of 159.47 and reached 159.75 before experiencing a reversal. As of now, the downside movement has been limited above 156.85, resulting in a neutral bias for this week initially. If the price breaks below 156.85, it will shift the bias to the downside towards the 55-day Exponential Moving Average (currently at 156.17) and potentially lower levels. Conversely, if there is a break above 159.75, it will indicate a continuation of the larger uptrend instead.
Long
by Sphyn-Trader
4
EURJPY I Potential retrace and decline to downsideWelcome back! Let me know your thoughts in the comments! ** EURJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
11
EUR/JPY on the Hourly Chart: Support and Resistance ZonesSupport Levels: Support 1 @ 156.866: The level at 156.866 serves as an immediate support zone on the hourly chart of EUR/JPY. Support levels are where the price typically finds buying interest and may reverse its downward movement. Traders should keep a close eye on this level, as a breach below it could signal increased bearish pressure. Support 2 @ 156.023: Support 2, situated at 156.023, represents another critical support level. This level has historically acted as a significant point of price reversal. If Support 2 is breached, it may suggest the potential for a more substantial downward move. Resistance Level: Resistance @ 159.767: The resistance level at 159.767 stands out as a key level of resistance on the hourly EUR/JPY chart. Resistance levels are where the price often encounters selling pressure and may reverse its upward momentum. Traders should closely monitor this level, as a decisive move above it could indicate a bullish sentiment in the short term. Conclusion: Analyzing support and resistance levels is a fundamental aspect of forex trading. These levels provide valuable insights into potential price reversals and trend continuations. Traders in the EUR/JPY market should carefully consider the identified support and resistance zones outlined in this blog post. It's important to remember that the forex market is influenced by various factors, including economic data releases, geopolitical events, and market sentiment. Therefore, traders should complement their analysis with other technical and fundamental indicators to make well-informed trading decisions. Risk management is equally vital when trading forex. Traders should employ risk management techniques such as stop-loss orders and proper position sizing to protect their capital. Developing and adhering to a well-defined trading strategy is also key to achieving consistent success in the forex market.
by enclavefx_Analaysis
EUR/JPY: Has it topped?A multi-month bearish divergence has formed on the EUR/JPY daily chart. And whilst the trend remains bullish, it has made harder work of gains in recent months whilst the bearish divergence formed. There's also reason to suspect BOJ members are getting read to increase their verbal warning shits, with one member yesterday remining traders that they are watching currency movements. And with a renowned ECB hawk making a slightly dovish comment, EUR/JPY posed its worst daily gain in five weeks on Thursday. The near bearish engulfing candle (the open was slightly below Wednesday's close), a growing case for a yen reversal and euro top, makes us suspect EUR/JPY is at or very near an inflection point. From here, bears could seek to fade into minor rallies below 160 in anticipation for an initial move lower to 155.50.
Short
by CityIndex
EUR/JPY Ascends Beyond 158.30 Amid Hawkish ECB CommentsThe EUR/JPY currency pair has edged above 158.30, largely influenced by ECB President Christine Lagarde's hawkish stance on inflation and interest rates. The pair faces resistance at 158.18 and could establish new trading ranges depending on upcoming economic data releases. The Bank of Japan maintains its loose monetary policy, offering a contrasting backdrop. TRADE IDEA DETAILS CURRENCY PAIR: EUR/JPY CURRENT TREND: Bullish above 158.30 TRADE SIGNAL: Conditional Buy 👉 ENTRY PRICE: 158.40 ✅ TAKE PROFIT: 159.40 ❌ STOP LOSS: 157.80 ANALYSIS: The EUR/JPY is trending upwards, buoyed by ECB's hawkish comments. Technically, the pair is experiencing resistance at the Tenkan-Sen line of 158.18. A breach above this line could signal strong bullish momentum. The risk-to-reward ratio is favorable with 1:2 (60 pip loss vs. 100 pip gain). FINAL THOUGHTS: The trade idea aims to capitalize on the pair's current bullish momentum and potential for higher moves. However, traders must exercise caution and keep an eye on fundamental economic releases that could influence market sentiment.
by RichDadph-FX