JPYEUR
EURJPY Target almost reached, Profit taking timeAlmost a picture perfect trade again with this double bottom pattern. Target is almost reached now but as we can see there are several resistances now. I posted an update in my channels an hour ago, about taking at least some profits. This trade had no long term thoughts behind it so IMO' i would not focus too much on letting a big size run and simply take the profits.
I usually do 2 things here, that is i (almost) always let 30% run with a tight trail stop, something i will do here as well. Now since we made a bull flag above the neckline of the double bottom, there is potential for a breakout upwards. So in this case i would use an even tighter stop for the other 70% as well instead of simply closing them. Maybe risking like 10 pips for potential 50/150 pips more. You never know, but worth it IMO'.
And even if the yellow hits, i would keep trailing at least 50%
Previous analysis:
JAPANESE YEN / EURO JPYEURJPYEUR is following the above channel so time your entry right on a lower time frame.
Also be prepared for a breakout in channel at some point.
Warning; trading comes with risks, trade safely and within reason. All charts to be used for guideline purposes.
EURJPY Double Bottom In my previous USDjpy' analysis, there was a very upwards channel that was about to break. The channel broke and it dumped in 2 waves, similar to this one. Now, it seems this pair has formed a very nice double bottom formation. It looks almost perfect even. Normally the low should be set already, but when looking on the left there is possibly a bit more room to form a low just below the previous one. So the support of the double bottom is the green area. There can always be a small wick, but i think it should not get below the blue zone.
Previous analysis:
EURJPY Bearish WedgeLooks like EURJPY is making a bearish wedge here. Only thing which makes me doubt a bit is that inverse H&S at the start of the wedge. So i am going to be a bit careful here. Normally a wedge is a wedge, but in this case i want to see some confirmation first or get an even better entry. So i will get in at one of those 2 yellow circles. A break of that small channel on the right, will probably show which of the blue line we will see play out.
Previous analysis:
Previous analysis: Reading a long term chart.
EURJPY CHANNEL + PIVOT CONFLUENCE FOR HIGH ODDS TRADEShown on chart is one scenario that could play out on EURJPY. We are looking for channel and pivot confluence
for tight entries + invalidation levels and high reward trades. Horizontals take precedence over diagonals,
break below pivot and we have a support resistance flip as the level is reclaimed for selling.
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Another scenario that could unfold.
Original idea by Ribz
EURJPY, small inverse H&SDaily shows a good (temp) low formation and on the lower time frame we can see an inverse H&S. It should not drop below that red zone. Target is in that blue circle.
Previous analysis:
EUR/JPY ForecastIn the near future looks like the price will bounce around this price channel.
Like this idea if you agree with my analysis.
EUR/JPYBearish triangle. I see the upper trend line holding & MACD turning down. This short offers still good R/R with positive carry.
EURJPY Sell IdeaA bearish divergence on histogram confirms this ABC correction.
Sell the break of the yellow TL aiming last low.
SL 2 pips + spread above last high before the break.
TP1 112.3
TP2 109.3
