Get started
FuturesForexClasses

EURJPY / H1 / Daily Forex Technical Analysis / 5.29.2019

Short
Euro / Japanese Yen (OANDA:EURJPY)  
FuturesForexClasses  
OANDA:EURJPY   Euro / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns dailyanalysis h1 Forex Technical Analysis forexsignals forextrading forextradingzones may2019 EURJPY
1
0
trendanalysis harmonicpatterns chartpattern dailyanalysis h1 forex technicalanalysis forexsignals forextrading forextradingzones may2019 eurjpy
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 29th, 2019 and we will be taking a look at the Euro against the Japanese Yen. Looking at the overall structure for the EUR/JPY, price action is in a clear downtrend. Taking a deeper dive into the 1 hour time frame were looking for price action to bounce here towards the previous support zone at the 122.29 area which could act as resistance now. On a pullback to the 122.29 resistance area we will be looking to enter a Short if the conditions are profitable while exercising great risk management. Entry for a Short position near the 122.316 area, with a Stop Loss near the 122.473, and target profit level area of 121.843 for what can possibly be a profitable trade with a 3.01 to 1 R/R.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.