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EURJPY trade ideas

EUR/JPY Bullish Channel Play: Targets and Key LevelsIn this technical analysis of EUR/JPY, we observe a consistent upward trend within a rising channel, offering a bullish outlook for potential trades. Currently, the pair is navigating towards the upper channel line, suggesting a target of 172. Traders should consider entering long positions on pullbacks towards the mid-channel, with a stop-loss slightly below 168 to protect against potential trend reversals. However, it’s crucial to stay vigilant as a break below the 168 support could invalidate the bullish scenario and trigger a bearish reversal. In such a case, traders might want to switch to a selling strategy, targeting lower support levels.
Long
by GlobalMarketGuru
EUR/JPY Gains Momentum During Asian Session, Bullish ImpulseThe EUR/JPY cross attracted buying interest during the Asian session on Tuesday, signaling the start of a fresh bullish impulse. The Bank of Japan (BoJ) decided to leave interest rates unchanged at the conclusion of its June policy meeting and did not provide any indications about the timing of the next rate increase. Additionally, the central bank might have disappointed some market participants who were anticipating an announcement regarding a potential reduction in the monthly bond purchases. This decision, combined with a generally positive risk tone in the market, has undermined the safe-haven appeal of the Japanese Yen (JPY), providing a substantial lift to the EUR/JPY cross. Given these developments, we are looking for a bullish setup in the EUR/JPY pair. The current market conditions, driven by the BoJ's stance and the favorable risk sentiment, suggest a potential continuation of the upward momentum for the EUR/JPY cross. Traders should watch for further bullish signals to confirm this trend and capitalize on the opportunity for gains.
Long
by FOREXN1
10
Intervention or not, euro-yen might still slow downThe euro has made gains against the yen in June, with the Japanese currency losing out across the board over the last several months as the Bank of Japan (‘the BoJ’) has been more cautious than expected in starting to tighten policy. Fresh verbal interventions by the government of Japan continue but so far haven’t had a significant impact on markets. The current area just below ¥172 is the EURJPY’s highest price since the introduction of the euro in 2002, so it’s difficult to project the next possible resistance apart from psychological areas. It’s also questionable whether gains will continue at this pace due to a clear overbought signal from the slow stochastic and the lack of any significant retracement since May. Many traders are expecting a material intervention – i.e. not just more headlines saying ‘we’ll do something when we need to’ – by the BoJ within the next few weeks. If this occurs, which is not guaranteed, there might be a similar situation to late April and early May when volatility massively increased around the BoJ’s meeting. The 50 SMA from Bands seems to be a strong dynamic support given that it’s been tested unsuccessfully four times since 12 April. This is my personal opinion which does not represent the opinion of Exness. This is not a recommendation to trade.
by Michael_Stark_Exness
Quick EURJPY Sell TradeI’ve just initiated a sell trade for EURJPY, targeting the 171.58310 level. The price has been moving sideways recently, but it looks like we might see a dip soon. Based on my analysis and market behavior patterns, I’m expecting a drop towards 171.58310. The price will likely fluctuate a bit on the way down, but the general trend should be bearish. I’m looking at a short-term timeframe here, so we should see this hit in the next few hours. Max 2 days.
Short
by GlobalHorns
EURJPY On a very aggressive Bullish Leg.The EURJPY pair is extending the rise since the December 04 2023 Low, which was a Higher Low on the 27-month Channel Up. Technically, we are half-way on the new Bullish Leg of the pattern and as you can see the 1W MA50 (blue trend-line) has been the ultimate Support since its start. The previous 2 Bullish Legs have rose by at least +19.30%, so we expect a similar development. Our Target is at 180.000 (marginally below the +19.30% mark). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
EURJPY Trading Journal Analysis EURJPY Trading Journal Analysis Summary of what I learned. In Asia Price rallies to the 2 deviation line taking out short term buy stops. Tipping its hand it would seek lower prices to the noted sell stops and highlighted 15FVG I noted. London Kill zone Price declined to hit a big figure number 170.900 creating the London low. Price comes up through the 15 FVG to rebalance. At 3:50 candle Price took short term buy stops and created a FVG. With the buy stops taken in Asia the sell stops in London and the only clear liquidity left was the buy stop I did not trust what I was reading in price due to learning a new tool and incorporating all the technical info I have swimming in my head. I m not sure would have survived the 9:05 candles range as it may have knocked out my stop loss. Learning price sensitivities to watch for the mean threshold of the FVG 50% line that the 9:05 candle came into. Note for future that the stop loss should be placed with these things in mind. Defiantly a great trade to analysis and learn from.
by LParnell
EURJPY Is Bearish! Sell! Please, check our technical outlook for EURJPY. Time Frame: 12h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 171.067. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 169.737 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1