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Euro / Japanese Yen

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EURJPY trade ideas

Beware of Symmetrical Triangles. And yes, they occur oftenWhy Beware? Ambiguous Direction: Symmetrical triangles don't inherently indicate whether the breakout will be upward or downward. Without additional confirmation from volume or other technical indicators, predicting the direction can be challenging. Market Noise: In volatile markets, price movements within the triangle can be erratic, making it difficult to identify clear breakout signals amidst the noise. False Breakouts: Not every symmetrical triangle leads to a significant price movement. Sometimes, the breakout fails, resulting in a false signal that can trap traders in losing positions.
Education
by Blayno_MTOPS
2
EurJpy TradeEJ is another pair that has been ranging. Structure on the pair hasn't been all that great but we could have a solid set up for the new week. Last week I was personally looking to short the pair but news kept the pair in a tight range last week. This week I'll personally be waiting on price to break and head into a clear direction. At that point we could expect price to continue heading in that direction. I'm not really leaning into buys with price still being overall bearish here. Price has failed to push to the upside for some time now so just based on probabilities I'll personally be looking for shorts here.
by OfficialJ23
EURJPY: Well supported on the 1W MA100 but needs more to rise.EURJPY is marginally bullish on its 1D technical outlook (RSI = 55.394, MACD = 0.690, ADX = 37.501), practically neutral as it's been ranging between the 1W MA50 and 1W MA100. The long term pattern is a Channel Up since 2021 and the recent 1W MA100 test is the new bottom (HL) of the pattern. The 1W MA50-100 consolidation is the bottom formation and even though it's encouraging we need a crossing over the 1W MA50 in order to validate the new rise. Technically it should be around +18.70% like the previous two. Set your target accordingly (TP = 183.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
EUR/JPY October Market Outlook: Bearish Setup with Key Sell Sign EUR/JPY October Market Structure and Trading Insights The monthly structure for EUR/JPY in October shows an open high-low-close pattern, which is indicative of a potential sell setup. However, we are currently waiting for confirmation in the form of a TDI (Traders Dynamic Index) cross, which will signal when to enter sell positions. Key Points to Note: 1. Bearish Divergence: From August 16, 2024, through the current market high, we observe a clear bearish divergence. This is often a precursor to downward movement and strengthens the case for a sell setup. 2. Daily Timeframe Open High Structure: The daily chart for October reflects an open-high structure, reinforcing the bearish outlook for the month. 3. Overbought Market Conditions: Since the bullish breakout on October 1, 2024, the price has been in an overbought zone. This suggests that a reversal is likely as the market corrects from these elevated levels. 4. Double Top ('M') Pattern: There is a visible double top pattern, also known as an 'M' pattern, on the daily chart. The second leg of this 'M' pattern looks particularly strong, further signaling a potential bearish move. 5. TDI Cross as Confirmation: A bearish TDI cross will serve as a confirmation of the presence of sellers. This signal is essential to validate the entry for sell trades. Take Profit Levels: - Take Profit 1: 161.600 - Take Profit 2: 160.500 Trading Advice: It is important to exercise patience and wait for valid confirmation signals, such as the TDI cross, before entering any trades. Always approach the market with caution, utilizing sound risk management strategies to safeguard your capital. If you found this analysis helpful, please consider liking, commenting, and following for future updates. I will gladly return the follow. Best of luck with your trades! ---
Short
by ezeepips
2
#EURJPY 1DAYOn the EUR/JPY daily chart, the price is testing a significant resistance level. This area has historically acted as a barrier, where selling pressure increases, preventing the price from moving higher. The resistance level suggests that the current uptrend may stall or reverse, creating a potential opportunity for sellers. Forecast: Sell A sell opportunity is anticipated as the price approaches the resistance zone. Traders may consider entering a short position if the price is rejected from this level, with a downside target toward previous support areas. It is essential to wait for confirmation of the price failing to break above resistance to avoid false breakouts.
Short
by PIPSFIGHTER
2
BUY EURJPY uptrend continuation STOP LOSS : 162.49BUY EURJPY uptrend continuation STOP LOSS : 162.49 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
EUR/JPY Closing in on 200-Day SMA Versus the Japanese yen (JPY), the US dollar (USD) is exploring terrain within the Ichimoku Cloud (formed by the Leading Span A at ¥160.10 and the Leading Span B at ¥161.18). As you can see, sellers have recently displayed interest in the area despite not establishing much presence. Technical Confluence Demands Attention Overhead, the 200-day simple moving average (SMA – white at ¥164.29), coupled with the upper boundary of the Ichimoku Cloud, the 50.0% retracement ratio and the 100% projection ratio around ¥164.92, could be enough to tempt a more solid showing from bears. Price Direction? Although the technical confluence around the upper region of the Ichimoku Cloud warrants attention, the trend has been strong to the upside since early 2020 for the EUR/JPY pair. The price close below the 200-day SMA supports a bearish trend reversal, though it is likely too early to call the recent correction a trend change in this market. This places a bold question mark on the above-noted resistance confluence. Therefore, Ichimoku traders interested in shorting the upper area of the Ichimoku Cloud may wait and see if the Conversion Line (blue at ¥160.84) crosses back under the Base Line (red at ¥159.37) before committing. Slightly more aggressive sellers could consider a bearish scenario following a price close below the Base Line.
Short
by FPMarkets