eurjpy price is currently respecting the trend line and resistance line 123.525 and is going to continue to sell and head down toward support line 121.554. risking 40-50 pips to gain back in reward 100+ pips
EURJPY trade ideas
EURJPY Short and Long IdeasEJ is in a downward channel currently, I've mark possible opportunities for the shorts as well as for longs.
Please support me by liking the idea and also if you think the same.
Happy Trading Folks
💡Don't miss the great buy opportunity in EURJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (123.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 124.65
TP2= @ 125.10
TP3= @ 126.00
SL= Break below S2
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Bear Flag - SellPrice is likely to be forming a bear flag.
Will wait for more confirmation factors before i look to enter a position.
This is the probable.
The possible is it could form a bull flag and continue to go higher.
Either way we are ready to kill the market ones our checklist is met.
EURJPY Double bottom !! Could retrace to 125 !Suggestion: BUY EURJPY AT CMP 123.25 SL BELOW 122.30 TGT 124/125
ELSE
SELL BELOW 122.20 TGT 121/120.90 SL ABV 123.30
Bear Flag - SellForecasting a bear flag pattern formation before taking it short.
Please note
Trade like the banks and financial institutions.
Do not aim for silly 20-30pips instead look for 90-100 pips and above.
Dont depend on Support/resistance lines because any line you draw with closed eyes will be a support/resistance in the past!
Dont depend on lagging indicators.
Simplicity is key to be successful in trading.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
💡Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 123.45
TP2= @ 123.05
TP3= @ 122.55
SL: Break Above R2
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. . . . . Please show your support back,
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Now, It's your turn!
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Trade well, ❤️
ForecastCity English Support Team ❤️
💡Don't miss the sell opportunity in EURJPYTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (124.850).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 30.
Take Profits:
TP1= @ 124.250
TP2= @ 123.850
TP3= @ 123.150
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
