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Euro / Japanese Yen

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EURJPY trade ideas

#EURJPY 4HEURJPY 4-Hour Analysis The EURJPY pair is trading near a key support level on the 4-hour chart, a zone where buyers have previously stepped in to push prices higher. This support area presents a potential buying opportunity if the price shows signs of holding above this level. Technical Outlook: Pattern: Support Forecast: Bullish (Buy Opportunity) Entry Strategy: Enter a buy position near the support level, confirming with bullish price action. Traders should look for confirmation such as bullish candlestick patterns (e.g., bullish engulfing or pin bar) or indicators like RSI signaling oversold conditions. Proper risk management is essential, with stop-loss orders placed below the support level and profit targets set at the next resistance zone.
Long
by PIPSFIGHTER
Extreme Bullish EUR/JPY1. Swing Low Zone is tested with 3 times which makes this zone extremely strong. It's very unlikely break out this zone. 2. 3rd touch on Swing Low Zone has formed Morning Star Pattern candles which indicates the down trend is finished. The bulls is entering the market. 3. Sto-RSI indicates strong buy as well. Note: Waiting for the trend to react on downtrend white line. Most likely the trend will break out this white trendline because the Morning Star Candles (Reversal Candles) are printed if the candle is valid. If not, we will see the bounce to the downside. This entry is based on 1 hour time frame. Entry $159.009 SL $158.20 TP 1 & TP2 (TP not set yet because waiting for reaction of the trend to the white trendline.)
Long
by RedPanda_Trader