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EURO REFERENCE RATE / JAPANESE YEN

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EUXJPY trade ideas

Can we see it stopped again at the head & shoulders neckline?Over time, eurjpy was pushed up from the area of YPP (P) 128.637 and MPP (P) 128.786. It will be stopped around 130.000 and the next week will be come. Weekly Chart 130.000 is not only a round number but also a head & shoulders neckline, so it seems that there are many conscious traders. (Also worried that for MA users 800 EMA and 1600 EMA are close?) Even if it goes up or down it has a possibility to move greatly, it is likely to be a turning point. as you can see,YPP (P) was penetrated several times last month and Month before last. Therefore, we do not think much about support line. However, since MPP (P) don't have a lot of information to say that it is easy to be penetrated, attention is still necessary. << tactics >> 1) 130.000 functioned as a resistance line short. The first limit is above 128.785. The second limit is above 128.000. * Assuming that it can penetrate MPP (P) and YPP (P) 2) It is doubtful that 130.000 functions as a resistance If it penetrate 130.000 and function as a support line, I will consider long. I would be grateful if you like it idea,give me follow or agrees! ------------------------- -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding round number. Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close x mark: Line which may not function ------------------------- --------------------------
Short
by fondiea
EUR/JPY Technical analysisThe 4-hour chart of EUR/JPY formed a double top pattern and made a strong sell off. Now it currently retesting the support of the double top pattern. The chart is also forming a up channel which could be interpreted as bearish flag too. As per our analysis,the counter is trading around multiple resistance zones and a strong selling pressure could be experienced. On the contrary,if it breaks the resistance zone it could head towards the next resistance of 130.337.
by traderpulse
A new opportunity to Sell in EURJPY ...New trading suggestion: Price may also reach to suggested resistance line (133.50). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Midterm forecast: While the price is below the resistance 133.50, beginning of downtrend is expected. We make sure when the support at 128.95 breaks. If the resistance at 133.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Price may also reach 133.50, if the price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies. Technical analysis: A peak is formed in the daily chart at 133.50 on 04/24/2018, so more losses to support(s) 129.65, 128.20, 126.80 and more depths is expected. Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains. Relative strength index (RSI) is 36. Total Profit: 3566 pip Closed trade(s): 766 pip Profit Open trade(s): 2800 pip Profit Trade Setup: We opened 11 SELL trade(s) @ 134.06 (day close price) based on 'Peak' at 2018.02.07 signaled by our "Daily Trading Opportunity" Closed Profit: TP1 @ 133.25 touched at 2018.02.08 with 82 pip Profit. TP2 @ 131.65 touched at 2018.02.14 with 242 pip Profit. TP3 @ 129.65 touched at 2018.03.02 with 442 pip Profit. 82 + 242 + 442 = 766 pip Open Profit: Profit for one trade is 134.06(open price) - 130.57(current price) = 350 pip 8 trade(s) still open, therefore total profit for open trade(s) is 350 x 8 = 2800 pip Take Profits: TP4= @ 128.20 TP5= @ 126.80 TP6= @ 124.10 TP7= @ 122.30 TP8= @ 118.45 TP9= @ 114.85 TP10= @ 111.25 TP11= Free
Short
by ForecastCity