EUR/JPY: We are currently bearish on EJ, if a 2 hour candle can break below 124 and close then we will be entering short. Downside target: 122 ( long term 120) That being said if we remain above 124 then our next upside target would be 126 where we would be looking to reverse back down to the 122-124 area.
As last week we had a major dive with this pair, at the top of the trend line we still have bearish flags showing on the one hour charts. Once we have broken the upwards trend line we may see a further drop until correction is made.
I will be updating this with the figures I have in mind.
Good luck all!
SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
For SHORT Term You Can SHORT EUR/JPY.
You Can Also Set own Risk Reward ratio .
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Hello Traders,
EURJPY ended the cycle from 09/25 peak at 10/26 low (126.652) in red wave W. Above from there it ended red wave X bounce at 129.2616 peak as a tringle structure. From there it already broke to new lows confirming that the next extension lower has started.
Near-term from 12/13 peak (129.2616) it ended that cycle at 12/25 low (125.329) in black...
EUR/JPY Buy trade Setup For longer Terms.
You Can Also Set own Risk Reward ratio .
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
The common European currency depreciated about 113 base points against the Japanese Yen on Friday. The currency pair breached both the 50-, 100-, and 200-hour SMAs during the previous session.
Today’s session began with a bullish momentum, and by the middle of the day, the exchange rate has dashed through the 23.60% Fibonacci retracement level at 128.29.
As for...
1. Price action has shown a break towards downside of triangle.
2. Volume is low and thus we can expect some pullback to the 0.618 levels.
3. Good RR.
4. Price is unable to get past the structure and got rejected multiple times.
5. This idea is for 2nd entry. So never chase the breakouts. Wait for pullbacks.
*It would be good to see a breakdown of the next...
Market is forming a bearish pennant on the 2HR chart view and this is a breakout to the downside so watch this space, sell once market breaks out of pattern formation.
DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident...
EUR/JPY (Short)
RSI is already Diverging from price action in EUR/JPY D1 Chart.
Also CCI is already Overbought.
If price will break the trend line (128.500),You should selling entry @128.000/ TP:124.000 / SL:130.000 //
OANDA:EURJPY www.tradingview.com
