EURJPY Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4hour Trend: Bearish
Trade scenario 1: Looking very bearish overall here on EJ as well but we are bouncing a bit between 135.500 and 134.500.
The most likely scenario is price action falling to 134.500 before we see any further reactions. Look for structure below 134.500 to continue shorting.
On the monthly time frame, prices are testing a key resistance level at 136.80 where we could see further downside below this level. On the H4 time frame, prices are currently testing a key resistance zone in line with the 76.4% Fibonacci retracement, descending trend line and 78.6% Fibonacci extension. A break below the M15 demand zone at 136.00, would provide...
EURJPY on the 4h chart has tested the 0.618 Fibonacci after the recent highs.
The price is now testing the lower structure over the 0.382 level.
How can we approach this scenario?
We will wait for the market to break below the area and In that case I will set a nice short order according to the Plancton's academy rules
Follow the Shrimp 🦐
Keep in mind.
POW EDGE In use on this trade idea.
We are on EURJPY working the H1 time frame.
One trade is currently live and running and has been for a few hours now.
Printed trade label shows all trade details.
We are aiming for TP3 target value on that label.
Chart also shows two previous trades with both hitting TP targets.
Green lines are TP targets and Red...
📉 Expecting bearish price action on JPYBASKET as we are in clear bearish market strucutre on the HTF(higher timeframe premise) price didn't made the bullish reversal i was expecting the last week. I think right now price is heading into sell side liquidity 8095 ALL TIME LOW, with that being said i dont think there is a good chance to enter SELL on YEN CROSSES such...
✅ Expecting bullish price action on JPY and a trend reversal from bearish into bullish as we have multiple imbalances area aka price ineffiency that price will try to close in the upcoming days/weeks. We have a clear rejection area somewhere around institutional figure 8200 and i think this area will hold as a LOW for a very long time. Buy Side Liquidity as the...
EURJPY pushed higher with strong impulse last month after going all the way lower towards 125.000 psychological support and rejecting it. The current impulse was very intense until it tested the resistance that was present at 137.000 area and rejected it. This rejection was accompanied by the monthly candle closing beneath the key psychological resistance at...
- ECB PRESIDENT Lagarde has a SPEAK. There are some positive technical points for MARKET RISK OFF and JPY to be a bit STRONG right now. The reason is that JAPANESE YEN DOWN is very fast right now. So a PULLBACK may come at some point.
- The EUR FEATURE currently stands at 1.1147 LEVEL. It rests on DYNAMIC S / R LEVELS. Also the JPY FEATURE is giving DOWN very...
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Fundamentally EUR is under pressure because of the Russia-Ukraine war. But JPY is also weak a lot. As a result EUR/JPY has advanced nearly 650 pips from its recent swing lows. There is no credit for EUR in such up. Just because the JPY is too weak.
"The longer the war continues, the more likely it becomes that the real economic and inflationary effects for the...
Price moving very slowly bearish, for more I consider this more of a consolidation which goes against my trading plan. The overall structure of the market is bearish but until I see a strong bearish candle pushing price lower I would be very wary about opening any positions here.
Need to wait for more hourly confirmation.
Signal ID: 79656
Time Issued: Monday, 07 March 2022 02:00:15 GMT
Entry: 124.205 - 124.931
Stop Loss: 123.117
The Congestion Opportunities Strategy has just bought EURJPY at 124.568. The system recommends entering this trade at any price between 124.205 and 124.931. The signal was issued because the 28-hour Relative Strength Index...