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Eurjpyforecast

EURJPY Technical Analysis and Trade Idea Upon comprehensive analysis of the EURJPY pair, we are currently observing a robust uptrend, particularly evident in the broader timeframes such as the monthly and weekly charts. Despite a transient retracement observed on the daily chart, indicative of bearish sentiment, the market trajectory has resumed its upward course. Notably, a decisive breach in market structure on the 4-hour chart suggests a potential shift in the short-term trend to bullish. Our latest video elucidates this trend progression, delves into the nuances of price dynamics, market structure, and fundamental principles of technical analysis. Concluding the video, we present a strategic trade proposition. Please note, the content provided herein serves solely for educational purposes and should not be construed as investment advice.
Long
by tradingwithanthony
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Long
by Thief_Trader
LONG EUR/JPY from 166.87It may have escaped some traders notice that the JPY has been hammered in the last few months. So much so that GBP/JPY hit 200.49 earlier today, USD/JPY hit 160.00 and EUR/JPY hit 171.65. Some of these are historic highs, in fact USD/JPY is a 30 year high. I'm unaware of any intervention by the BOJ that would cause the 570 pip fall in USD/JPY (mirrored EUR and GBP) but all the signs are that JPY SELLERS are steaming back into this market and we may see a return to the recent highs. Getting LONG here looks a no brainer as we could see this pair go from WS1 at 166.00 all the way back to WR1 at 171.00 and maybe even higher. The major concern would be if the BOJ DOES intervene which would see the JPY rise sharply. So get LONG this pair with breakeven stops and with luck we could see a shed load of pips on offer.
Long
by forextraplaces
What is EURJPY's next move that is rising well?!Hello, guys. This is ESS team. We are cheering for your safe trading. So, Let's talk about "EURJPY". It is pleasure to RISING well. Of course, We prepare for the EURJPY's next movement. ::::::::::::::: Currently, It's RISING with middle line's support within the rising channel. If candle is resisted at the GREEN line, It could temporarily fall to the bottom line of the channel. If it breaks strongly through the GREEN line OR the top of the channel, and RETEST, The LONG position will be safe.
by ESS_piglet
1
EURJPY - Bearish Crab Pattern Indicates Potential ReversalEURJPY is currently showing signs of a Bearish Crab Harmonic Pattern (XABCD) on the 4-hour chart, indicating a potential reversal in trend. Additionally, the price is approaching a significant trendline, further supporting the bearish bias. Bearish Crab Harmonic Pattern (XABCD): The formation of a Bearish Crab Harmonic Pattern suggests that the price is likely to reverse downwards from Point D. This pattern typically indicates a high probability of a trend reversal. 4-Hour Trendline: The price is currently at a 4-hour trendline, adding confluence to the potential bearish scenario. A breach below this trendline could signal further downside momentum. Entry, Stop Loss, and Take Profit Levels: Entry: 165.900 Stop Loss: 167.060 Take Profit Levels: TP-1: 164.720 TP-2: 163.600 TP-3: 162.450 Risk Management: It's essential to adhere to proper risk management practices when executing this trade. Position sizing should be adjusted to ensure that potential losses are within acceptable limits relative to account size and risk tolerance. Conclusion: In conclusion, the technical analysis suggests a bearish outlook for EURJPY, with the formation of a Bearish Crab Harmonic Pattern and the price approaching a 4-hour trendline. Traders may consider selling at 165.900 with a stop loss at 167.060 and targeting take profit levels at 164.720, 163.600, and 162.450.
Short
by trading_jupiter
1
EURJPY: Asian foreign exchange increased thanks to the decline oYen falls as USDJPY heads in the direction of a hundred and fifty five However, the Japanese Yen did little to enhance in opposition to the weaker dollar, with USDJPY buying and selling close to a 34-12 months excessive and close to the a hundred and fifty five level. The yen weakened whilst a sequence of Japanese officers warned of presidency intervention to help the currency. Traders see USDJPY at a hundred and fifty five as in all likelihood to draw authorities intervention. Yen weakens beforehand of this Friday`s Bank of Japan Meeting, wherein the important financial institution is predicted to go away hobby prices unchanged after a anciental hike in March. However, the outlook for inflation and boom stays uncertain. The financial system could be carefully watched.
Long
by Chart_MasterPro
SHORT EUR/JPY 165.59Trading FX is a risk/reward exercise. And the greatest reward for the least risk is taking trades that relying on experience. I've traded Fx for over 20 years so I recognize chart patterns and price movements without really thinking about hem. If I was teaching how to trade FX I would be advising novice or inexpereinced tarderes NOT to take a trade like this but I'm shorting this pair for the following reasons. a). Risk/reward is massively in my favour. I can get a SHORT trade on with a 20 pip STOP. b). We are at WR1 Pivot area and this is a universally known area where SELLERS MAY enter the market. c). The last 4 15m candles have been doji indecision candles. d). RSI on multiple time frames is high (70 on H4 and high 60's H1, 30M, 15M). e). 15M Andean Oscillator sees the red SELL line lifting away from zero. Put these together and this "looks" a SHORT trade but there's always the chance EUR/JPY BULLS hace not finsihed with this pair. f). we have a nice candle tweezer pattern on H1 right at resistance. It should be noted that it's 24 years since this pair was at 165.60 so its highly likely that we are looking at a short term retracement but this could be back to the 200 EMA on M15 which would be 164.91 (+68 pips). If this trade does take off and there is strong selling momentum then 164.50 is posssible.
Short
by forextraplaces
2
EUR/JPY SELLING at 162.76EUR/JPY has been BULLISH since July of 2023 so its abrave man (or a fool) who calls the top on this particular pair. That said the current wave of BUYING started earlier this month and there are clear signs that EUR/JPY BULLS are taking a breather. The SELL signal line of the Andean Oscillator is rising and the green buy line is crossing south over the signal line indicating an increasing BEARISH influence. MACD is mirroring this and also crossing south and the RSI on H1 which has been overbought for sometime is also heading south. So all the technical indicators would suggest we're headed south from these levels. However. The 25 50 100 and 200 EMA's are all below price so EUR/JPY BEARS will have their work cut out to drive the price lower. This trade will have to be carefully managed and exited if there are signs of support coming in. There's no more scheduled news now until next week so once the markets have digested the green numbers of the Unemployment Claims and Flash Manufacturing PMI then whatever direction we 're going in should last for some time.
Short
by forextraplaces
14
EURJPY: Possible Swing Selling Opportunity!Dear traders, EURJPY recently has been overbought, and price is currently at the crucial level. There are two possible swing entries which can be utilised properly. JPY plummet to lowest, making it one of the worst performing currency on currencies index. Take sell entry with accurate risk management, no more than 80 pips in stop loss. If first entry fails, take second entry. We are now focusing on both of these area for swing selling. 400 to 800 pips in take profit. Good Luck.
Short
by Setupsfx_
3
SHORT EUR/JPY at market 162.11Just like EUR/USD we can see an M-Top candle pattern has formed just below key resistance of WR1 on EUR/JPY. The neckline at 162.11 has been broken so I'm in SHOT on this pair. The pair fell just short of reaching key WR1 Pivot which is a concern so my STOP on this trade is above this level just in case we see some late buying in an attempt to hit WR1. The double top at 162.36 area was last reached some tine ago, in November and a look at the H4 RSI shows us that we've just left an area of overbought so there are signs that this move south has the potential to be deep. Price has cleared the 25 EMA on H1 and is curerntly sitting on the 50 EMA. The key 100 and 200 EMA levels lie below the price so if this is to be a deep retrace then the BEARS have their work cut out. Initially my target for this trade is the 200 EMA which lies on top of WPP Pivot which it frequently does. We'd have to see how much BEARISH momentum is in the market to see whether this key level at 161.43 is likely to break. If it does then we could be headed to 159.00 but that wouldn't be for some considerabe time. We also have FOMC minutes at 19:00 GNT which will be a market mover.
Short
by forextraplaces
EURJPY M15 / POTENTIAL MARKET CORRECTION 💲Hello Traders! This is my idea related to EURJPY M15. I expect a sell-off on the EURJPY, and a market correction on the JPY basket, that's why my bias will be for short entries. In the first phase, I expect the old highs to be taken before going bearish, it confirms, I will look for short entries. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
Short
by GoodTradeST
3