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Japanese Yen/Euro

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JPYEUR trade ideas

Have you tried GannZilla? It changed me lifeGannZilla reads planetary positions in astrology and interprets them in relation to Gann's Square of 9, a geometric chart that helps traders identify potential price levels and market turns based on mathematical relationships. By aligning astrological events with the Square of 9, GannZilla aims to provide insights into market movements influenced by planetary cycles, helping traders make more informed decisions based on both astrological timing and Gann's theories.
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by Blayno_MTOPS
EUR/JPY Drops Ahead of Key Eurozone DataTechnical Analysis The EUR/JPY pair is trading within a triangle pattern on the hourly chart, with sellers currently pushing the price lower after a reversal from the upper boundary of the triangle. At present, the price has reached the first significant support level at 162.889. If the sellers succeed in breaking below this level, further downside targets are identified using Fibonacci retracement levels from the prior uptrend, with immediate support seen at 162.720, followed by 162.480, and finally 162.175, which marks the previous major support zone. The RSI (Relative Strength Index) remains below 50, currently around 40, indicating a bearish momentum with room for further declines before entering the oversold territory. The MACD (Moving Average Convergence Divergence) also confirms a bearish signal, as the MACD line is below the signal line and the histogram is negative, suggesting ongoing selling pressure. Additionally, price action is below the moving averages, adding to the overall bearish sentiment in the short term. The triangle pattern continues to dictate the current market direction. A sustained move below the lower boundary of the triangle would signify the continuation of the bearish trend, while a failure to break below would provide some relief for buyers.
Short
by Errante
Beware of Symmetrical Triangles. And yes, they occur oftenWhy Beware? Ambiguous Direction: Symmetrical triangles don't inherently indicate whether the breakout will be upward or downward. Without additional confirmation from volume or other technical indicators, predicting the direction can be challenging. Market Noise: In volatile markets, price movements within the triangle can be erratic, making it difficult to identify clear breakout signals amidst the noise. False Breakouts: Not every symmetrical triangle leads to a significant price movement. Sometimes, the breakout fails, resulting in a false signal that can trap traders in losing positions.
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Education
by Blayno_MTOPS
2
EurJpy TradeEJ is another pair that has been ranging. Structure on the pair hasn't been all that great but we could have a solid set up for the new week. Last week I was personally looking to short the pair but news kept the pair in a tight range last week. This week I'll personally be waiting on price to break and head into a clear direction. At that point we could expect price to continue heading in that direction. I'm not really leaning into buys with price still being overall bearish here. Price has failed to push to the upside for some time now so just based on probabilities I'll personally be looking for shorts here.
by OfficialJ23