I have analyzed EURJPY and this is my opinion
-My technical analysis indicates a possible bullish setup
-The risk to reward on this trade is 1:2
-It is closely related with GBPJPY which is currently BULLISH
⚡️Exercise Good risk management⚡️
⚡️Split your position so you can take partials as the move progresses⚡️
⚡️Updates will be added on this...
I forcast EJ to push higher now that we have broken the bearish channel. This was also confirmed with divergence.
We could still see EJ make a final push lower before heading up so keep this in mind.
My idea will be invalidated if price breaks below my trendline and heads lower on HTF
EJ last week didn't perform as well. Perhaps it's making a comeback now, after testing certain resistance areas to see how far it can break the line. So far, we are back on the buy trend. If you'd like to participate in this trade idea, please use proper risk management.
Hello Traders and welcome to out channel. This is out thought process for this specific analasys. If you like this idea please support it with a like so we can keep posting more content like this. If you have any additional questions let us know in the comments and we will provide you with the answer! SharkFx wish you a successful trading week!
welcome to another free setup!
You don`t need to follow me on this one as this is a high-risk-trade ahead the news.
I personally have a higher risk-aversion and see a great opportunity here!
Point of Risk-Reduction: 127,680
Price is grinding higher within a equidistant channel. The preceding move was bullish and I expect a bullish continuation. This expectation lines up with the weak dollar. I expect the current area (the bottom of the channel) around 1.21775 to hold as support and price to move higher.
My initial target would be 1.2330 , if achieved this would provide a 5R trade.
Markets have been quiet as expected during this holiday period, but EURJPY has been consolidating since early Dec.
The preceding trend was bullish and in my opinion, the most likely direction the market will break out will be to the up side.
I am willing to take a long at the bottom of this corrective structure or upon a break out and retest at the top.