A follow-up detail on the EURJPY that was published earlier today (see link below for reference purposes) where we expected the price to come down into the key level area at 137 area. At current structure is supporting a reversal pattern right above this key level where we want to be looking for an opportunity to buy the Euro. Risk Disclaimer: Margin trading in...
A breakout of the key level of the JPY137 area on the 19th of April 2022 appears to be a bullish signal. In this regard a bullish momentum shall be anticipated as we go into the new week should we witness a significant retest of key level. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high...
The EURJPY pair has broken above its Bull Flag this week. That was a pattern coming off the incredible 10% rise since the March 07 bottom that broke above its Bearish Megaphone pattern. The 1D MACD topped and made a Bearish Cross. The last time we saw the very same set of conditions was during the strong rise of May 2020 that led to the June 2020 Bull Flag. That...
Sell in sell zone or use break and retest of key level if thats your strategy.
Technical indicators remain bearish. However, oversold oscillators raises scope for some pullbacks EUR/JPY has formed a Spinning Top on the daily candle, suggesting indecision among traders. The pair is set to remains choppy at current levels as we head into the ECB meeting. Geopolitical developments are set to remain in the driving force. DISCLAIMER: ((trade...
It has been a choppy situation for EURJPY since mid last year as the price keeps juxtaposing between JY128 and 132.5 zones to emphasize the indecision in this market. With a very simple set-up floating on my screen right now on the 4H time frame, my expectation going into the new week remains bullish considering the rejection of the JY128 level which has a strong...
EURJPY has been trading within a long-term Channel Down since the June 01 2021 market top. Since January 05 2022 it has seen a strong downfall within this wide pattern but this week could have found Support on this internal Higher Lows trend-line (dashed) as it turned sideways. The 1D MA50 (blue trend-line) is acting as the Resistance. Last time we saw a similar...
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.
With over 400pips in the kitty from our last speculation on this pair (see link below for reference purposes); It appears that the correction of the Impulse leg has begun following the Breakdown of JY132.800 and JY132.300 level respectively. As the Euro runs out of steam against a potentially strong Yen from a short term perspective, the current position in the...
It's been 3 weeks since my last publication on this pair and my bias remains bullish (see link below for reference purposes). Rejection of Y130.500 a couple of times at the beginning of the month (September 2021) resulted in a further decline which tested the Y128.000 zone to form a double bottom structure with hopes of Neckline Breakout in the coming...
With over 400pips move in our direction since my last publication (see link below for reference purposes); The selling pressure surrounding the Japanese yen continues to increase in the latter part of last week trading session and It appears that the Euro has finally found support at Y128.000 with a high probability of a Bullish momentum in the coming week(s). ...
Just like the situation on our GBPUSD, we experienced a 300pips move in our direction since my last publication on this pair (see link below for reference purposes) and with the present market structure, it appears we are at another juncture that "screams" for a selling opportunity. Even as a momentary price increase is envisaged on this pair considering the...
We were unable to open a Bearish position in my last publication on this pair as the price continued to find a higher level ( see link below for reference purposes) but the current structure transposing into a Head & Shoulder - a strong reversal pattern suggests that the bears might lead to further decrease in price in the meantime. Tendency: Downtrend...
We enjoyed a 150pips run in our last publication before the price began to find higher highs (see link below for reference purposes) which topped @ Y133.4ish during last week trading session. Even as the EURJPY appears Bullish on the long-term outlook, the break below Key level @ Y132.800 which also serves as the Neckline of the Double Top structure signals a risk...
The price continues to hover around our previous Supplication area (see link below for reference purposes); The Euro has been unable to sustain its move to a new high following price inability to Break above the Y130.600 area. After culminating @ Y130.680, a Double Top pattern emerges with tendencies that support the beginning of a Corrective phase. We finally...
Thrusting out of our previous Demand level @ Y126.4, the price moved over 150pips in our direction since my last publication (see link below for reference purposes). Since the Breakout of the Y122.000 level mid last year, the price has continued to find Higher Highs with impressions that support LONG positions from all perspective. It is also very obvious that Key...
Since my last publication on this pair (see link below), it appears the Resistance level @ Y126.620 is not holding as price finally breaks out of this level last week to find a new Support level (Demand zone). Despite Europe having a lead over Japan when it comes to vaccination; The unfolding Covid-19 situation and other global events might have its toll on this...
EURJPY Will go short after RETEST however in overall we are looking for BUYING ( SWING)