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Euro / Japanese Yen

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EURJPY trade ideas

EURJPY counter trend short move is expected**Monthly Chart** EURJPY monthly chart is looking bullish, we have already broken July 2008 high. I do expect a huge reaction from BOJ around this level. Last month candle closed bullish after spiking around 170 level. This month candle which is already active is moving towards breaking the high of last month and reacting from July 2008. **Weekly Chart** last week candle closed as bullish. There is still no sign for a price reversal on weekly as the weekly time frame indicating a clear bullish trend. However, there might be a huge reaction around July 2008 historical high level. **Daily Chart** If the price moves slowly to the upside in a corrective wave with a price action pattern formation, it will provide a sell signal to move lower. I am expecting a reaction around this area which might provide a sell setup to go short at least for 500 pips.
Short
by PropSignals
EUR/JPY Trading Signal: Sell OpportunityDear Traders, We have identified a potential sell opportunity for the EUR/JPY currency pair using the EASY Quantum Ai strategy. Direction: Sell Enter Price: 168.58 Take Profit: 167.861 Stop Loss: 169.718 Analysis: 1. Technical Indicators: Our analysis shows that multiple technical indicators suggest a bearish trend. The Relative Strength Index (RSI) is currently in the overbought zone, indicating a potential price correction. 2. Economic Data: Recent economic data from the Eurozone shows a weaker-than-expected growth rate, which negatively impacts the Euro. On the other hand, improved economic indicators from Japan, such as better industrial production numbers, provide extra strength to the Yen. 3. Market Sentiment: There is growing market sentiment for a stronger Yen as it is often seen as a safe-haven currency during periods of global economic uncertainty. This shift in sentiment could lead to a further decline in the EUR/JPY exchange rate. Please, ensure that you adhere to your risk management strategy when using this signal. Monitor the market conditions closely, as unforeseen changes might impact the trade. Happy Trading, Your Quantum Ai Team
Short
by ForexRobotEasy
Bullish rise?EUR/JPY has just reacted off the pivot and could potentially rise to the pullback resistance. Pivot: 168.31 1st Support: 167.37 1st Resistance: 170.03 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1
EURJPY 1H 1). Trend Continuation: An established trend often continues after a pullback. In an uptrend, prices typically pull back to a support level before resuming the upward movement. Similarly, in a downtrend, prices pull back to a resistance level before continuing downward. 2). Fibonacci Retracement Levels: Pullbacks often retrace a predictable portion of the prior impulse move, typically to key Fibonacci levels such as 38.2%, 50%, or 61.8%. These levels are used by traders to identify potential reversal points. 3). Volume Analysis: During a pullback, trading volume often decreases compared to the previous impulse move. A subsequent increase in volume can indicate the resumption of the trend and the start of a new impulse move. 4). Chart Patterns: Certain chart patterns, like flags or pennants, can indicate a brief consolidation or pullback before the trend continues. These patterns provide visual confirmation of potential continuation. 5). Momentum Indicators: Indicators like the Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) can signal when the pullback is over and the next impulse move is beginning. For instance, an RSI bouncing off a support level or a MACD bullish crossover can indicate the end of a pullback. 6). Candlestick Patterns: Specific candlestick patterns (e.g., hammer, engulfing patterns) at the end of a pullback can signal the resumption of the trend. These patterns indicate a potential reversal of the pullback. By analyzing these criteria, traders can increase the likelihood of accurately predicting the resumption of an impulse move after a pullback, thereby making informed trading decisions. 🤞🤞
Long
by vbenking91
1