Here is my simple set up on EURJPY for this week if we see a pullback. This may not happen if Euro strength / JPY weakness continues but if there is a pullback then this is my ideal entry.
- Bullish TL now broken.
- Retest of this TL
- Higher low to be made using previous resistance as support @ 125.600
- 4hr bullish TL (higher lows) is intersecting this area...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=125.85.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=125.65.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
After hitting our uptrend targets...EURJPY formed a double top with a consolidation near support/ bearish flag. A break below the bearish flag could present a potential downtrend.
Downtrend targets will be the 50%, 61.8% or even 2 Apr structure low of 124.489.
However a close above the double top pattern will cancel out this downtrend analysis.
EURJPY short trade set up based on the 4hr and daily timeframe analysis.
- Daily chart made a lower high last week and is now pulling back to the 0.61 Fib level.
- Price has rejected the daily 50ema from below
- 4hr price is stalling at 125.500 key level
Targeting new lows on the daily and 4hr around 122.800
I'm looking at EURJPY on the Daily. Here's what I can see...
-The pair has come back to Daily High's of 126.700-126.800, If we see a similar Daily Reversal pattern form on this area such as a Shooting Star or a Bearish Engulfing I will consider taking shorts.
-I have drawn in an Upwards Trendline so price may pullback to a Key Psychological area 126.000 and...
As you can see EURJPY pair has enjoyed a terrific rally overnight and in this morning. Price is seriously in the overbought territory and also reached to major level of structure where it has acted as a support and resistance on a multiple occasions.
I will be shorting from here with a potential tp in the next support zone but long term tp is...
We've achieved our take profit 3 from this trade from last week. Dropped over 200 pips in the past week
Our target zones were 125.000 which we saw it trespass but shortly retest it and failed to break through and then we saw price drive down to our final target of 124.650
( we'll be looking for EUR strength next and look for a possible swing trade
finally after the 15th of april high was hit now retraced to the 61.8 fib could touch down to the 71.00 fib but looking to a new high to TP1 -27.00 fib extension this is a risky trade as we do look in a strong down trade but eurojpy usually respects the fibonacci
Good morning traders,
Looking to change up our recent technical analysis examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an Evening Star candle forming on the daily over the 15th and 16th. Evening star are early...
Price has been travelling in a large ascending channel, we experienced a fake out to the downside, price made its way back into the channel annd shot up all the way up to the previous resistance point which is quite significant. We saw a major drop the last time we were here, can it happen again down to the bottom of the channel?
We believe so...