EUR JPY analysisEUR JPY analysis found to be zigzag pattern which will go bullish opportunities more with few bearish opportunities as well
EUXJPY trade ideas
bullish cypher on EURJPY 4HRLYOn HTF this pair has shown to be bullish so the overall bias of the pair is bullish since its always a good idea to go with the trend and the RSI has deep in overbought territory to add as a filter. I will take the bullish cypher which has formed on four hourly of which is my trading TF.
EURJPYPrice holds weekly key area for nearly 17days also coincide with nice 50% Fib.Now price broken TL,i'm looking for price to go daily,Monthly Key area.
EURJPY61.8 region bounce + 132 key level confluence followed by 3 pin (Daily) and Consolidation break H4
BUY CLEAR BEAKOUT or BACKTEST4 H Symetrical trilange breakout
1 H Ascending trilange trend continuation if break above resistance
opinions welcome
EURJPYLooks like there is some resistance and a decent short position can be taken at current levels
LONG EURJPYEUR/JPY after a sharp correction from 125.8060 price manged to halt near support level 124.4190 levels now price trying to take momentum on upside, Traders can buy EUR-JPY @ CMP and maintain the stoploss of 124.2000 with take profit 125
Happy Trading
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Short EURJPY We can short EURJPY for the following reasons.
The Primary Wave 2 is completed thus we are potentially seeing wave 3. Wave 3 cannot go higher than wave 2.
The price is also approaching intermediate wave 2 where it should terminate and start wave 3. Again wave 2 cannot go over the area of starting of wave 1.
It is a hat-rick because minor wave 2 cannot cross over the area of where wave 1 started.
All these regions are on the same resistance line, thus potentially we are gearing up for a sixer.
Our potential target is 161.8% Fib level at 110 region.
This is a very high probability because i have consider multiple waves with support and resistance level.
Strategy Short now at CMP or 122.20 with SL at 123 area at EOD basis to target the minor wave 2 start with target of 110 area however we will review this soon and evaluate
EURJPY- UPWARD 5 TH WAVE COMMENCED. Buy for Targets 124-126 areaEURJPY has completed 4th wave (complex correction) and 5th wave has commenced. Buy
Correction on EURJPY ?Currently we are in the corrective wave a. It just touched 0.382 retracemet near 115.285.
Once done it can start for the b wave. We need to check what corrective pattern gets formed.
