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Eurjpytradeidea

EURJPY - Trade Review & Updated Forecast. Welcome traders to a free analysis breakdown. Today I have broken down the trade we took on EURJPY, if you any questions on the pair let me know in the comment section below. Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful . If you liked this free educational please like and follow the channel, there is lots more valuable content right around the corner. Feel free to comment a pair or subject you would like me to cover next. Trade Safe Alpha Trading Group.
by AlphaTrading-Group
2
Elliot Wave: EURJPY Set Up for a Massive Advance The five-wave rally from 119.25 in wave (i) favors the idea wave 2 ended at 119.25, and wave 3 is underway. It also set the stage for a three-wave correction, which is unfolding as a double zigzag pattern. I anticipate that wave (ii) will find support circa at 119.560 area, comprising the 78.6 Fibonacci retracement of the advance from 119.25, a key support level, and retest of the weekly descending trendline. The invalidation level has been indicated on the chart, and the breach of the green line will confirm the pullback has bottomed, and that may trigger upside acceleration for wave (iii) of 3. Kindly let me know your thoughts in the comment. Thanks for reading! Veejahbee
Long
by Veejahbee
EURJPY approaching major support, prepare to buyBuy above 123.78. Stop loss at 123.15. Take profit at 125.32. Reason for the trading strategy (technically): Price is approaching major support at 123.78 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a bounce above this level for a rise to at least 125.32 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing strong support above 4.7% where we expect a bounce from.
Long
by MEX_Exchange
1
EURJPY testing major support, prepare to buy for a strong bounceBuy above 122.56. Stop loss at 122.30. Take profit at 123.63. Reason for the trading strategy (technically): Price is now testing major support at 122.56 (Fibonacci extension, horizontal swing low support, bullish divergence) and we expect a strong bounce up from this level to reach at least 123.63 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong support above 4.1% and also displays bullish divergence vs price, signalling that a bounce is impending.
Long
by MEX_Exchange
EURJPY End of Uptrend?DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Talk about an uptrend! But as we all know, this cant last too long. Evidence: The highs on Monday 5th and the highs on Wednesday 8th. Forming here a resistance (blue line) two days apart. If we look at the hourly chart the movements after the 8th were small. Not much happening or showing confirmation that the uptrend will keep going. But there are also no new lows. So I've marked a support level from December 2nd that was almost tested on December 8th. Let's wait and see what happens but this could be a good short if that support is broken and indicators are strong. For example look at the RSI. It's been getting oversold all this past week.
by EdwardFabianRamirez