Short EURJPY @ 136.30
TP: 132.20
SL: 137
Selling a clip of EURJPY below the 136.31 fibbo resistance, and will sell another closer to that 136.80 downward trend channel. Stop is in the system at 138 but I will probably close through 137 if we smash through these next two resistance levels. So this trade is a great RR of 5.8/1
Good luck ;)
- EUR FEATURE currently stands at 1.0473 LEVEL. It rests on DYNAMIC S / R LEVELS. Also the JPY FEATURE is UP. It stays at 0.0077 LEVEL. The EURJPY PRICE rests above the DYNAMIC S / R LEVELS. So most of the time the PRICE can be UP again in the form of a STRUCTURE. Then there will be DOWN.
- Currently the OVERALL MARKET is RISK ON. STOCKS is currently...
Technical Analysis:
EUR/JPY finds strong support at 110-EMA and daily cloud, weakness only on break below
Price action has broken above 200H MA and 21-EMA
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EUR/JPY eyes 20-DMA at 136.71.
Further, on a quarterly basis, GDP increased by 0.3%. Finally, the Employment Change was up 0.5% in the first quarter as expected.
Hey Guys!
The current eur/jpy weekly bias is long. Or in other words, price is likely to reach 139.98 before reaching 124.34
In this post, I explain the reasoning behind this long set up as well as how I plan to trade it.
That's it! I'll keep you guys updated!
Ken
Disclaimer: This is not Personal Financial Advice.
This is a follow up detail on the publication I made on this pair during the weekend. So, with the current structure projecting multiple rejection by buyers right above our key level at 137; I think it is most appropriate that we start preparing to take on a potential bullish move so we do not get caught unawares when it finally happens.
Risk Disclaimer:
Margin...
Euro appears to be grinding as we continue to witness the oscillation of price action right above the identified key level at the 137 area.
In this regard, I have identified a demand zone below the key level as a yardstick for a bullish momentum going forward.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs,...
EURJPY is making lower lows and forming descending channel.
Price has tested 136.600 level multiple times before.
There is higher chance that price is going to break that level.
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- EUR FEATURE currently stands at 1.0540 LEVEL. It's just below the DYNAMIC S / R LEVELS. Also the JPY FEATURE is UP. It stays at 0.0076 LEVEL. The EURJPY PRICE is above the DYNAMIC S / R LEVELS. So most of the time the PRICE can be UP again in the form of STRUCTURE. Then there will be DOWN.
- Currently the SENTIMENT of the OVERALL MARKET is leaning...
Support and resistance line hit at around 138.800. on one day time frame formation of a hanging man. on the RSI indicator an oversold position its still active which may suggests a reversal pattern to around 135.500.
- EUR FEATURE is currently trading at 1.0611 LEVEL. It's just below the DYNAMIC S / R LEVELS. Also the JPY FEATURE is UP. It stays at 0.0078 LEVEL. The EURJPY PRICE is above the DYNAMIC S / R LEVELS. So most of the time the PRICE can be UP again in the form of a STRUCTURE. Then there will be DOWN.
- Currently the SENTIMENT of the OVERALL MARKET is moving...
Confluences
1. Monthly Resistance
2. Daily Went above then came back below the monthly resistance and recently-made strong resistance that should be support to go up further
Most likely, this will have a monthly pullback.
Target 1: 134.450
Target 2. 132.750
The chart analysis is self-explanatory.
Why you should follow me;
- Clean Chart,
- Clean Analysis
- Daily price action update,
- Good Minimum R:R 2:1 with stop-loss and target,
- Educational purpose,
- Money Management 1-3%
Trade with good risk management because the market trend can change so fast. Analysis is based on recent data and valid if the...
