125 and 116 are key monthly levels that i will be looking at setting orders at, notice how these are nice round numbers also!
If you want to see the bigger picture you must zoom out, so use the higher timeframes and you will spot stronger and more setups, if the police want to find someone in a crowd they use a helicopter (so they are looking at the bigger...
- We can clearly see two supports, red support on 30m and blur support on 4H. As long as we are holding above the 30m support, our TP will be @ 125.650 $ , If the red support is broken, we are heading to 124.100 $, which will create a good buying area.
- This is my first analysis, hope you like it.
- Do you own analysis, and follow your own risk assessment.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (125.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (125.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
The EUR/JPY currency pairs have an upward trend that means it’s good time to get buy position
Due to weekly resistance breakout we can put three target for this action
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (124.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (124.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
EURJPY Short Idea
Overall we have been very bullish on this pair and are looking to continue with this trend.
We recently saw a bullish break of a symmetrical triangle and are expecting a pullback.
Look for long opportunities around the yellow zone between the 61.8% fib level and recent broken structure. (The blue trade path)
For us to consider short...
