EURJPY / m15 / Technical chart
Formation:Resistance Line Breakout
Risk Management: Fixed Lot Size
Wish you many pips
PS: Thank you very much that you support me with your likes and Comments
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
Price is approaching our first support (61.8% Fibonacci retracement, Horizontal overlap support, 100% Fibonacci extension) where a strong bounce to our major resistance ( Horizontal overlap resistance, 100 % Fibonacci extension, 50% Fibonacci retracement) might occur. Stochastic is also approaching support where we might see a bounce.
Trading CFDs on margin...
Price has broken through support along with the counter trendline & momentum is still to the downside. Will be watching for a pullback towards previous support to then act as new resistance for price to make a reversal back down towards the long term ascending trendline.
On the 1 hour time chart, we see a clear downward trend with the 20 MA serving as a resistance. Though there were consolidation in recent prices, as highlighted by the strong presence of dojis and spinning tops, I foresee a temporary retracement to the 20 MA before prices continue its downtrend momentum. The upward retracement is supported by the potential...
JPY super duper strong
Probably a week full of JPY pair trades
this is one of the most interesting one
Will the history repeat itself again??
Good luck and God bless guys..
This week EURJPY keeps her strong Downtrend.
So that we prefer to Sell after She has a shot-recovery.
My Trading Strategy with EURJPY this week is : Waiting the recovery done then Sell.
#Sell zone: 121.900 - 121.100
Stoploss: 122.350
TP1: 121.300
TP2: 120.800
The Euro vs. the Japanese Yen. The Yen is a historically low-yielding currency, influencing traders to borrow cheaply in JPY to purchase higher-yielding currencies, including EUR. Because of this the pair is sensitive to broad-based market sentiment trend swings. Volatility may be found in news related to the Eurozone debt crisis and from the Bank of Japan’s anti-deflation policy efforts introduced in 2013.
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