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EJ

experimenting with eurjpyI have analyzed the currency pair of Euro/Japanese Yen (EUR/JPY) and determined that it is currently showing an upward trend based on a technical analysis of the currency pair. First, let's examine the overall trend. Over the past six months, EUR/JPY has shown a steady increase, with the pair trading above its 50-day moving average and 200-day moving average. This is a bullish signal, indicating that the trend is up and that the pair is likely to continue its upward trajectory. Next, let's look at the recent price action. In the past two weeks, EUR/JPY has broken out of a symmetrical triangle pattern, which is a bullish pattern that signals an imminent uptrend. The break of the triangle is confirmed by an increase in volume, indicating a strong demand for the euro. Furthermore, the Relative Strength Index (RSI) is also signaling a bullish trend for EUR/JPY. The RSI is a momentum indicator that measures the strength of a currency pair's price action. Currently, the RSI is above 50 and trending higher, indicating that the euro is gaining strength against the Japanese yen. Finally, it's worth noting that the euro has been benefiting from an overall improvement in the Eurozone economy, with positive economic data releases and the European Central Bank's recent signal of a potential tapering of its asset purchase program. These factors are contributing to an increase in demand for the euro, which is driving the upward trend in EUR/JPY. In conclusion, based on the technical analysis, the EUR/JPY currency pair is exhibiting a strong upward trend, with a bullish signal from both the overall trend and recent price action, along with a strengthening euro. As a result, this may be a good time for investors to consider adding EUR/JPY to their portfolios.
Long
by da-bag
3
EURJPY 4hour Analysis January 22nd, 2023EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: Looking bearish on EJ with some dramatic swings in both directions as of recent. Going into this week we want the bearish trend to continue but we need to see more clear price action. Ideally, price action slows down and shows us clear rejection from 140.750. A little bit of consolidation would do us good at this moment. If this happens we can consider shorts down to 138.000 support. Trade scenario 2: If we want to consider long scenarios we need to see price action push through 140.750 resistance and start forming structure above.
Short
by ForexLeague
1
EURJPY 4hour Analysis January 1st, 2023EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking majorly bearish on EJ going into this week as we just saw a break of our 140.750 support. The most likely scenario is price action forming a lower high below 140.750 which we can enter short on. Trade scenario 2: If we want to consider EJ bullish we would first have to see a break back above 140.750 with a higher low above.
Short
by ForexLeague
1
EURJPY 4hour Analysis December 18th, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bullish Trade scenario 1: Looking newly bullish but we still have to get through key resistance at 145.000 to confirm the new 4hour trend. Going into this week we want to look for reactions from 145.000 as it is the zone that is holding the daily trend. If we break above, look for a higher low to enter long on. Trade scenario 2: If we reject from 145.000 resistance we may be looking at a reversal back down to 143.000. At the moment this looks like the most likely.
Short
by ForexLeague
2
EURJPY 4hour Analysis December 11th, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking bearish overall but we still need to see a few things before we can confirm more downside movement. Ideally price action continues bearish and proves so by breaking 143.000 support. Look for a confirmed lower high below to enter short. Trade scenario 2: If we are to see EJ as bullish again we would need to see quite a bit happen. We would need to first break the descending channel and 145.000 resistance. If we spot structure above we are confidently bullish on this timeframe.
Short
by ForexLeague
EURJPY 4hour Analysis December 4th, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bearish 4hour Trend: Bearish Trade scenario 1: We are looking more bearish on EJ now as we saw a break of our major support level around 143.000. Going into this week we’re looking for lower highs to form below 143.000 so we may target lower. Trade scenario 2: For us to see EJ as bullish again it would require a break back above 143.000 with confirmed higher lows above. This move would invalidate any short potential we had for the time being.
Short
by ForexLeague
2
EURJPY 4hour Analysis November 27th, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: Overall we are bullish as long as we are holding above 144.000. This 4hour timeframe shows a large amount of consolidation near 144.000 support which brings me to believe this has a strong chance of falling lower. If we are to turn bearish, look for a confirmed lower high below 144.000. Trade scenario 2: If we are to consider EJ bullish again we need to break this consolidation. Look for 1hour higher lows + convincing bullish variations to enter long.
by ForexLeague
EURJPY 4hour Analysis November 20th, 2022EURJPY Bearish Idea Weekly Trend: Bullish Daily Trend: Bullish 4hour Trend: Bullish Trade scenario 1: We are still overall bullish but this chart is showing us it’s getting ready to break lowe. Going into this week we are looking for reactions from our 144.000 zone. Ideally, price action breaks below 144.000 and forms a lower high below. If this plays out it could send us into a massive short opportunity. Trade scenario 2: The other likely scenario is a bounce off 144.000 sending EJ back into the range. Look to target higher resistance levels.
Short
by ForexLeague