EURJPY Approaching Key Support - Buying Opportunity Ahead?OANDA:EURJPY is approaching a key support zone, an area where the price has previously shown strong buying interest. The recent price action suggests that buyers may step in and drive the price higher. A bullish confirmation, such as a strong rejection pattern, a bullish engulfing candle, or long lower wicks, would increase the probability of a bounce from this level. If buyers regain control, the price could move toward the 160.080 level.
However, a breakout below this support would invalidate the bullish outlook, potentially opening the door for further downside.
This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.
Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments.
Best of luck , TrendDiva
EURJPY trade ideas
Short trade
4Hr TF
Sellside
Pair EURJYP
Entry 4Hr TF
Thu 6th Feb 25
LND Session AM
8.50 am NY Time
Entry 157.776
Profit level 155.465 (1.46%)
Stop level 158.191 (0.26%)
RR 5.57
Reason: Just a quick view on the 4Hr TF sellside dominance seems to be in control with momentum to the downside. I assume the price will descend (1.46%) to the previous respected support zone 155.191...?
EURJPY: TP3 Hit +127 PipsUSD-JPY moved sideways ahead of President Trump and Japan’s Prime
Minister Ishiba’s meeting. The JPY has held on to its gains from yesterday, and
notably, it has been the best performing currency in the G-10 space this week. The
overnight comments by BoJ board member Naoki Tamura also helped, as he flagged
the need for more interest rate hikes (Bloomberg). Some market participants might
believe the recent fall in US yields – on the back of US Treasury Secretary Scott
Bessent’s comments on bringing down US 10-yr yields – could have driven the move
lower in USD-JPY. However, by our estimates using historical elasticities, the
narrower yield differential alone can explain about only half of the JPY’s c2.5% gain
since the BoJ meeting.
For USD-JPY, we think the market’s focus is on two other factors (beyond
yields): (i) US-Japan relations, and (ii) GPIF asset allocation. On the former,
Scott Bessent has already spoken to Japan’s finance minister and the BoJ governor.
President Trump and Prime Minister Ishiba are set to meet later tonight and markets
are on high alert for any potential discussion about USD-JPY (being too high). On the
latter, the GPIF’s next 5-year investment plan will start in April 2025 and markets are
speculating that the GPIF could start divesting from foreign assets to increase its
allocation in domestic bonds. It is worth mentioning that the GPIF has an AUM of
USD1.65tn. Given local investors are under-hedged the downward momentum in
USD-JPY could quickly take a life of its own.
eurjpy analysis elliot. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
EURJPY Will Grow! Long!
Here is our detailed technical review for EURJPY.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 158.366.
Considering the today's price action, probabilities will be high to see a movement to 161.846.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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EURJPY Trade Alert: Watch This Key Zone for a Potential Rebound!In my view, EURJPY is overextended. It has reached a key support zone on the higher timeframe. I'm watching for a retracement and a potential counter-trend trade back into resistance. In the video, we covered the trend, market structure, price action, and a possible trade setup. This is not financial advice.
EURJPY buy signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
EURJPY BUY PROJECTION EURJPY moves just like GJ, This week has been filled with lots of invalid entries and price not hitting my POI , But this EURJPY I think is my only understandable set up for this week.
As we can see price is in a demand zone in the daily TF, so am looking for only long till the night falls, just a simple break out , retest to the POI and go long
EURJPY - Short active !!Hello traders!
‼️ This is my perspective on EURJPY.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect bearish continuation after price filled the gap. As well we have hidden divergence for sell.
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EURJPY Will Explode! BUY!
My dear friends,
Please, find my technical outlook for EURJPY below:
The instrument tests an important psychological level 159.31
Bias - Bullish
Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 160.59
Recommended Stop Loss - 158.73
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
Bullish EUR/JPYEUR/JPY is at a verry strategic spot, it has swept most of buy side liquidity and I believe it is time for it to give us a reversal and target Sell side liquidity.
I am expecting a break above that level then searching for entry at the retest but right now the trend is about to change.
EUR/JPY BEST PLACE TO BUY FROM|LONG
Hello, Friends!
We are targeting the 163.408 level area with our long trade on EUR/JPY which is based on the fact that the pair is oversold on the BB band scale and is also approaching a support line below thus going us a good entry option.
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EURJPY: Take Profit at 158.96The USD has emerged as one of the best performing currencies after risk aversion spiked in the immediate aftermath of the tariff announcements by the Trump administration over the weekend. Market sentiment has been improving somewhat since then, however, on the back of investor hopes that the announcements were part of President Donald Trump’s negotiation tactics. As a result, the prospects for further USD-gains will increasingly depend on the relative growth and inflation outlook between the US and the rest of G10.
We also think that the US economy could be better able to cope with an all-out global trade war than most of its trading partners but note that international investors have a huge exposure to US stocks and that they could cut some of these longs if the US growth outlook deteriorates in the coming months. This could limit any USD gains vs the other safe-haven currencies like the JPY, CHF and even the EUR.
#003 Obvious Trend EURJPY Sell 1358SGT 04022025Selling.
Will come back at 9pm SGT tonight.
Time now is 1359SGT, i will have to go work abit of grab now that I am feeling better.
I can't understand how Ooooooman says he worked 19 hours or so for some time to collect incentives but later on fall sick for a week or so.
Now I understand.
I didn't work extremely long hours but I fell ill prolly due to the prolong rain and extremely cold weather of 20degree celsius in Singapore which isn't common.
I missed the sun LOL.
1403SGT 04022025