EurJpy Trade IdeaEJ is still overall bullish even with price tapping into a resistance level. Bullish structures are still solid here on all time frames. I'm personally looking for smaller times to flip and remain bullish first before looking to enter any longs on this pair. I'll be looking for a 1:3rr if all goes well!
EURJPY trade ideas
EURJPY LONGSAccording to my technical analysis starting from the weekly to the 4HR timeframe we see a reaction from each of the timeframes from an engulfing bullish candle which as we should all know as price action traders and any other trader really acts as a level of support and resistance. Now my stop level is a bit tight given that the trade appears to be much more of a swing trade which I am confident with but anyway let us see how this takes us
EUR/JPY Outlook: Key Pivot Holds Crucial for UpsideHello,
FX:EURJPY pair could face further downside if the 1M and 1D pivot points fail to hold, though they have so far acted as support, with prices closing above these levels. Confidence remains strong for a potential upward move, but this will depend on the price sustaining itself above the 1M pivot point.
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TradeWithTheTrend3344
Short on EUR/JPY: Analysis and Trading Strategy
Dear readers, my name is Andrea Russo, and today I want to share my upcoming short setup on EUR/JPY, based on a combination of technical indicators and market signals. The trade is not yet active, but it will follow the direction indicated by the arrow on the chart. The goal is to take advantage of a potential bearish reversal while maintaining an optimal risk/reward ratio.
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Technical Analysis
Wave Trend Breakout (1H):
I identified a clear bearish breakout on the Wave Trend in the 1-hour chart. This signal highlights a loss of bullish momentum, suggesting a possible downward move.
Overbought on the 4H timeframe:
On the 4-hour chart, the price is in an overbought zone. This makes me think that a reversal is imminent, as the market could correct to more sustainable levels.
Alligator in a bearish phase (1H and 4H):
The Alligator confirms this thesis: on both timeframes, the lines show bearish crossovers and open downward, a typical signal of a developing downward trend.
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Trading Strategy
My plan is to enter after a slight pullback following the initial expected drop. This will allow me to enter at the best possible price, optimizing the position.
Entry Point: 162.839, after a brief technical rally.
Stop Loss: 163.249, placed 50 pips above the entry level to limit risk.
Take Profit: 159.047, targeting a key support level with a realistic and well-defined profit target.
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Risk Management
For this trade, I’ve set a risk/reward ratio of 1:3:
Risk: 0.5% of capital.
Potential Return: 1.5% of capital.
This setup allows me to keep risk limited while maximizing potential gains.
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Conclusion
I’m confident this analysis has identified an interesting opportunity on EUR/JPY. As always, the market may surprise us, but a strict risk management approach and attention to confirmation signals will be crucial for the trade's success.
Thank you for reading! Let me know your thoughts in the comments!
Andrea Russo
EURJPYEUR/JPY has broken out of a curve formation, transitioning into a bearish triangle pattern. The structure is reinforced by the presence of multiple bearish engulfing candles, signaling strong downward momentum. This setup indicates a potential continuation of bearish pressure, with lower levels likely to be tested. Traders should watch for a breakout below the triangle's support for confirmation of the downtrend.
Bullish bounce off 50% Fibonacci support?EUR/JPY is falling towards the support level which is an overlap support that is slightly below the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 162.04
Why we like it:
There is an overlap support level that is slightly below the 50% Fibonacci retracement.
Stop loss: 160.32
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
Take profit: 164.46
Why we like it:
There is a pullback resistance level.
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EUR/JPY Trading Analysis: Short Buy OpportunityThe current EUR/JPY chart indicates a potential short buy opportunity based on a well-defined trend line analysis. The pair is currently holding above a key support grid, which aligns with previous price action, confirming its strength as a critical level.
As per the analysis, the support line is unlikely to break under current market conditions, suggesting a bounce-back scenario. This setup provides a favorable entry point for short-term buying, with the trend line serving as a guide for potential upward movement.
Traders should monitor market sentiment and price action closely, ensuring the support line remains intact before executing trades. A break below this level could invalidate the analysis, signaling a need for reassessment.
EURJPY FACESS A RESISTANCE AT 164.785Price recently got resisted at 164.785 end pair which has recently developed some bullish momentum from 156.594 got resisted at 164.785 what’s the next move?
We’ve market out two levels where we’re looking forward to seeing market react. We have a support level at 159.843 And resistance at 166.539
Bullish bounce off overlap support?EUR/JPY is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance.
Pivot: 162.11
1st Support: 160.33
1st Resistance: 164.78
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EURJPYEUR/JPY is respecting a key support level, demonstrating strong buyer interest at this zone. The pair is currently trading within an ascending channel, characterized by a series of higher highs and higher lows, reflecting a sustained bullish trend. Price action suggests that the pair is maintaining its upward momentum, with the channel's boundaries providing dynamic support and resistance. Traders should watch for potential breakout or reversal signals near the channel edges, as well as any confirmation of continued bullish momentum above resistance levels.
EURJPY ANALYSISAs we know, EURJPY has been on a very strong uptrend. If price breaks the lower TF supply, which I indicated as X on the chart, it's a confirmation buy and we will see more higher prices. If it drops below the trend line demand zone, expect a confirmed downtrend to start. Keep an eye 👁️ on the market because anything can happen.