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Eurjpyprediction

EURJPY Uptrend Start, or retracement for downtrend continuationNot a setup, but a downtrend continuation prediction is what I have in mind. Price could follow the uptrendline, to continue up as Fibonacci tool predicts where it will lead to, while 117.7 hit 61.8% & may be enough to continue downtrend with Traders Dynamic Index indication of reversal from an uptrend start. Or price to move up according to its minor fibonacci lines 61.8% to 119.6, being, still at a red zone of the major fibonacci, allowing a turning point in the future to continue down if other conditions necessary continue to be met at that time.
Short
by YardleyRosette
EURJPY Long TradeToday’s trading idea is coming from EURJPY. I have been waiting for a price action setup, which has finally come. As discussed with one of my followers (Dan) in the comments section, I finally had a confirmation from price. If you look at the daily chart of the EURJPY, you will find out that there is a pin bar, which is forming on the support level of 118.00. It seems to me, the time is ripe for a long entry now. I will be looking to place my stop-loss just below 117.00. My first price target is the level of 119.500. My next target (depending on price action) is the level of 123.000.
Long
by colibritrader
what's most importantEURJPY found support last year at the lower bound of a multi year channel (109.50) and a swift recovery has taken shape since then. It headed towards an intermittent hurdle near 124 the 76.4% retracement from march2016. Currently the pair is retesting the channel limit at 11.70 in what appears to be the fourth wave from an elliot perspective. With the daily indicators closing in on support 119.70 should contain nearterm downside. A break above will take it towards 122.50/123 with the next handle at the recent high of 124.
by TheBanker
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