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Eurjpytrade

EURJPY ShortAccording to the higher timeframes (D,W) the price has formed a rising channel, hence a major indicator of a potential bearish pattern, and the price touched the upper trendline, retested it and now formed a bearish confluence. The price touched a major support zone, bounced back up/ pullback, but the bearish confluence is still strong. The price might be rejected at zone 138.2 - 138.9, then it maybe a bearish movement. I predict that the bears will get an upperhand. My entry point is 138 with stoploss at 139, just above the market major zone. Entry - 138.0 Sl - 139.0 Tp1 - 137, Tp2 -136 , Tp3 - 135 R:R is 1:3. Remember, only risk 1 - 2% of the account.
Short
by Vapari_Inc
2
EURJPY SHORTAccording to the weekly timeframe, there has been formation of a rising channel, which is a major indicator that the price might have some bearish potential. The price touched the upper trendline twice, before retesting the zone again. The price bounced off, formed a new lower-low, then right now it is in the pullback zone. According to the chart pattern, I see that the price might have touched the higher low and we might see a significant drop from that. IF the daily candle forms a bearish candle either today or tomorrow, there might be a bearish rally that might follow after that. The entry will be determined by the lower timeframes (1H and 4H timeframe). The stop loss is placed slightly above the major market / resistance zone. Entry @ 141.1, SL @ 142.4 TP 1 @ 139.7, TP 2@ 138.3 and TP3 @ 136.9. Remember, risk only 1-2% of your account.
Short
by Vapari_Inc
is eurjpy forming a downward channel?on the 8 hrs we can see eurjpy establishing a downward channel which, i have reasons to believe is forming, because of Europe's instability & inability to control inflation i.e. on a broader look on the 3 day we can see eurjpy finish forming the head which i will publish after key points: . with the breakout of the jpys we see extreme volatility . market tends to react strong to opec and largard meetings . ecb aggressive rate hike to combat inflation spark concerns to whether they downplayed it . due to its extreme volatile nature trading it on the 8 hrs would reap most profits take away: . after the breakout we see eurjpy reaching a high of 144 however failing to break it 3 times which establish a roof/head . it later found support @139 to retest the high of 144 which it failed to break > a 139 was created when Ecb hints at a rate hike . after rejection @ 144 we see it found support @137 to go as far as 142 > 142 rejection was created when Ecb implement a very aggressive rate hike of 50 points which sparks the question, will this aggressive hike spark a recession? . with that information we can draw our channel line to see that price is down trending with resistance of (144, 142, ???140-138) and support of (139, 137, 135) > i.e. an interesting look at this chart is that price breach 135 but did it form the head and is this final trend bounce the right shoulder? outlook: . if price holds 135/136 we can buy and hold to 138/140 where the counter trend line is . if price can't maintain this region, we sell right to back 133 which will be current support previous resistance. . after the price goes back to 133 we take profit and wait for more information to see if price will break this neckline
Short
by shermuelinvesting
EURJPY analysis: approaching a dangerous zoneThe yen maintains its positive momentum by attracting buying flows from investors seeking refuge in safe-haven currencies as global recession fears grow. The yen also received additional support after Bank of Japan Deputy Governor Masayoshi Amamiya acknowledged last week that the BoJ should begin considering tools to end ultra-expansionary monetary policy, though the actual change is unlikely to occur anytime soon. In addition to the dollar, the Japanese yen is strongly regaining ground also against the euro, with EUR/JPY now trading at late May levels and down about 6% from June highs. The appreciation of the yen against the euro occurred despite the ECB's 50-basis-point rate hike in July, leaving the BoJ as the only major central bank that has not yet raised rates. Japan has remained more isolated from worrying energy risks in Europe, where the clouds of an impending economic recession are gathering. The 10-year yield spread between Germany and Japan has fallen to 0.6%, the lowest since mid-May, as Bund yields have collapsed in response to data indicating a bleak economic picture in the Eurozone. Technically speaking,tThe formation of a triple top at the end of June ended the EUR/JPY currency pair's multi-year uptrend, and the breakout of the neckline support at 137-137.5 solidified the trend reversal bearish pattern. The RSI is dangerously pointing down, but it still doesn't show that technical conditions are oversold. The next level of support is seen at psychological 134, followed by 132.7 (May 12 lows).
by Capitalcom
Eurjpy correction completeHi everyone in the Trading View community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count! We are going to discuss about FX:EURJPY We can see market testing its trendline and in a correction phase. So we are expecting more fall from its resistence TL. This is my opinion, I really hope this will be useful for you. This is not a financial advice. Always take trade at your own risk, Be ready and take care your money. Have a great profit ! Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the EMOTT brand based on the legal requirements in his/her country of residence
Short
by Theranasaramd
EURJPY - FUNDAMENTAL AND TECHNICAL VIEW#EURJPY - - EURJPY has a short-term UPSIDE BIAS at the moment. Maybe it can reach 139.202 LEVEL. 139.202 is a very good RESISTANCE limit. - Some NEWS coming for the USD will help weaken the EURO. Here the price can be pulled down one more time by RESPECTING the EURJPY TRENDLINE very well. It may come down to 135.116 LEVEL. - Somehow the price moves to the area I mentioned and its trend line If the BREAK is done, the EURJPY price can definitely be BUY if the DOWNSIDE CHANNEL is BREAKED. For that, EURO STRONG and MARKET RISK must be ON.
by benny_marshall