I see a trend line break and retest, before crashing to 124.000 breaking all levels.
EURJPY Short setup at @ Previous Daily Resistance and broken neckline of the double top as well as 50% fib retracement of recent down impulse and 200 DMA
EUR/JPY broke trough support, expecting continues bearish movement this week. Focus Time Frame: 4H/1H Market Condition 1D Short Term: Downtrend 1D Long Term: Uptrend
Weekly Chart Explanation: - Price completed a full ABCDE Elliot Triangle Pattern. - It broke the bottom of the triangle. - Now, it has potential to move down towards the Support Zone at 111.5 and, then the next Support Zone is at 95.75. Our Daily Analysis also support this idea. Check it! Daily Analysis:
Shorting at market price - price has pinned the minor resistance and printed a sell signal (railroad track) Selling at market price 126.485 SL above highs @ 126.905 TP lower down 2 support 125.123 See EURUSD trade idea to confirm correlation of EUR pairs and analysis As usual don't bet the farm, good risk management won't kill you but the lack thereof could...
EURJPY H1 chart formed bearish bat XABCD harmonic pattern, and the price is at a resistance zone. The RSI looks like overbought, so don't think it can break this resistance.
Signal for SHORT on the pair occurred on 08/10 @128.026. Unfortunately, I hesitated to place the trade and entered on 08/13 @125.846. I've set two targets (gold lines), which are indicated in the demand areas (blue rectangle) on the chart. My trading system and methodology typically includes at least three price targets, however due to the erratic nature of YEN...
As described in my precedent post, I was expecting to see Euro getting weaker against Japanese Yen. Finally, we are getting there. We can see a lower high, which gives support to my bearish idea. Target can be detected at 125.50; horizontal support. Thank you guys, Simone
EURJPY | H1 | BEARISH CYPHER // 2% entry recommended
EURJPY | 15M | BEARISH CYPHER RECOMMENDED RISK // 2% Balance
eurjpy is holding a critical support here..once it breaks we have a lot of downside potential on this one. selling at 129.50 with a target of 128
I know its ECB day but with the short EUR trade the RR is so fantastic today that it definitely makes sense to trade this one. Shorting EURJPY here @ 129.12 Stop at 129.52 Targeting 127 Let the games begin . I will be sitting with trigger ready and might pull it off early if we get a decent exit during the statement or the presser.
EURJPY - DAILY - Strong Fib confluence meets 800 EMA Strong rejection on DAILY, lets see a close below FIB PIVOT Huge Fib Cluster ranging from multiple highs 800 EMA hovering above. Still room for a retest, no need to rush in.
i`m expecting to fall more and strong , hence for shorting might have some moves up base on pivots but they are not strong to change short trend! be patient and take profits :) Good Luck!