EURJPY on the monthly chart has approached the monthly descending trend line.
Market has been in a descending trend inside a descending channel from Jan 2018 till it created a double bottom on a monthly structure.
On the weekly chart the market in June broke and retested the channel with a retracement till the 0.5 fib level before continuing the uptrend move.
Hello Traders, here's an analysis of this pair. Red is sell zone, blue is buy zone, and yellow is potential take profit target.
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We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
As we can see trend is moving upwards where higher high (HH) & higher low (HL) formation across the H4 time frame (TF)
Setup strategy: buy
***However, if say break of structure (BOS) occur, where we likely to look for sell opportunity below the blue zone
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the...
EURJPY is trending in Upward Direction. It is trending in the Rising Channel Pattern. According to chart pattern analysis, we might see a small downside in EURJPY towards the support level of the Channel pattern. Short side trade can be initiated with proper risk management and stop-loss.
Ascending Triangles are repeatable trading chart patterns.
Ascending chart patterns will have a directional bias depending on the previous incoming trend (Long).
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the...
We can look for a buy entry in the zone I showed.
The main reason is the global bullish trend. Also, we can see the level which possibly will serve us support.
The best condition to open Buy will be the fast approaching to the level (with a full ATR candle).
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Before to trade my ideas make your...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
EUR/JPY has broken the horizontal resistance upwards, making it a mirror level.
Having decisively broken out of the long term downward trendline, the the current horizontal structure breakout signals us that the upward momentum is strong.
Thus, a surge up from the mirror level is reasonable to expect.
If the price will fall to the Buy Zone we can open the position.
The main reason is the bullish trend.
The best signal to open buy will be if it will approach the zone with a full ATR candle.
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Overall, EUR/JPY is trending upwards. Recently, EUR/JPY moved lower into the key level of 125.
Japanese banks will be closed next Monday in observance of Mountain Day. Expect lower trading volatility and volume during the Japanese market session.
Currently, EUR/JPY is testing to break below the key level of 125. Its next support zone is at 124.200 and the next...
. There is a possibility of temporary retracement to suggested support line (125.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
One way to determine the strength of a currency is to add 2 moving averages to the charts, one set to 5 and one set to 12. If both the 5 MA and the 12 MA is pointing upwards, that means +1 and vice versa if both of the MA:s are pointing downwards. If they are pointing against each other, different direction or are flat lined, thats equals 0 as we are most likely...
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EUR/JPY has been rejected from ascending channels resistance line and now will head down.
Let us know what you think about this idea.
Trade safe !