Thread: Eur/Jpy
If a M15 close above 106.80 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 105.00 sell only and do not buy. If price closes back above it again do nothing
The range 106.80 and 105.00 is neutral area, any trade done in between is personal decision and not part of this analysis
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105.40 is a support level from august 2010 and price actually bounced off it. Unless price opens with a bearish gap below this level, it only costs 70 pips at this point to open long with a SL below 105.40 and try to catch the falling knife
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On the 4H chart the next support is at 104.77 while the candle will see a resistance at level 105.91. The short term trend for this pair is downward.
In my opinion, sell the pair below 105.34 and set the take profit at 104.77 while the stop loss should be set at 105.91.
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If a M15 close above 109 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 108 sell only and do not buy. If price closes back above it again do nothing
The range 109and 108 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
The spot rate is currently testing the intermediate support of its medium term bearish channel in 107.80 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 106.40.
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If a M15 close above 110 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 109 sell only and do not buy. If price closes back above it again do nothing
The range 110 and 109 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Price closed on the H4 chart below a very strong support at 109.00. That's a round number too, acted as support in the past and now price is below it.
A bearish acceleration is very possible today so keep your short positions open as long as price remains below 109.00.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
If a M15 close above 111.80 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 111.00 sell only and do not buy. If price closes back above it again do nothing
The range 111.80 and 111.00 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
The EURJPY is well on its way to retracing the entire 3 wave rally from 10804. I favor selling rallies into resistance at 10990 with stops above 11100. A drop below 10804 would shift focus to the March low at 10645 and the 2010 low at 10541.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Look for a fresh medium-term higher low to carve out around 110.00 (above 108.00) ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Mureedabbas (2019-03-14)
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