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Quick Analysis Of EURJPY Using Simple Methods.
Analysis of 4H Chart
- Methods Used For Analysis
- Trend Line
- Fib Retracement
- Support & Resistance
*POTENTIAL 80-100+ PIPS*
We took a short position on the EUR JPY yesterday
currently +150 pips
Last week saw JPY continue to advance adding further weight to the breakdown seen the week before
Price is currently just above resistance turned support at 124.094 and below here we have sloping trendline support the June 17 low (the two intersect, 20th Aug).
Traders not already short EUR / JPY could wait for the aforementioned levels to clear before taking ...
On the M30 chart of EURJPY, the price has started a new downtrend within wave C of ABC zigzag. We recommend selling the instrument if the price breaks the fractal level.
Daily: Confirmation of an inside bar closing on the Daily Time frame
4HR : Head and shoulders pattern evident
Take trades on 1hr look on lower time frames for key entry levels
Currently have what looks like a retracement on the downtrend with EURJPY, up to the 50% zone. It is also sitting around a support / resistance at this level too, there is the potential for a head and shoulders pattern to complete, with indicators showing the bull power slowly running out. This could start the final leg of the right shoulder. I will be waiting for ...
Symmetrical triangle - ready to break out to the downside
-Euro has been weak due to weak retail sales as well!
We have a potential Head and Shoulders pattern forming on this pair, with the right shoulder forming and ending at around the monthly support of 131.000 level. This would coincide with a large demand area for the pair to then turn bullish and begin climbing to the upside. If it breaks the daily pivot level of 132.665 and closes under it I will look at shorting ...
Potential EURJPY short
Currently rejecting 0.382 Fib level at 132.213 and I think this level is going to hold, potential short with an entry around 132.000 and if price holds out past daily trendline then this pair could continue to melt down to 130.400 area.
EurJpy - Daily time frame - I prefer shorts from daily supply zone down to a daily demand zone.
One level of resistance already taken out and it's heading to the major swing high. Also at the outer Bollinger Band so maybe we can expect a reversal? Another one on the watchlist.
EURJPY, I kinda like this pair. I think its a madting. In other words, it is lucrative. Tres Bien.
8 confluences. Lets see how it plays out.
Price failing to close above 134.00 on 6 attempts.
Double top at historical support/res area.
We have a closing bearish candle outside the triangle, which gives us another signal to go short.
Target 132.500. Stop loss above 134.200
As you can see on this pair, although we made new highs for the last 12 months recently (seeing a close above 124.000) we have also seen a struggle to maintain above this level.
It looks as though the recent bullish run is running out of momentum and I think we can see 122.000, if not lower, pretty soon.
Monthly MA's are still down, and the Daily MA's are also ...