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EURJPY Trend Lines

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  • EURJPY Trend Lines in Technical_index
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Here are 2 trend lines on the weekly chart for EURJPY. Both have been broken and price has retraced back up and retested one of them. I expect EURJPY to fall. So I recommend only considering sell orders for EURJPY at this time.

Linkback: https://www.forex.zone/technical/11/eurjpy-trend-lines/623/
#1 - December 28, 2018, 02:33:55 PM
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« Last Edit: December 28, 2018, 02:35:33 PM by Admin »

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Here is a longer duration trend line taken from the EURJPY weekly chart. It was touched many times and it was only a matter of time until price finally broke through. Price might retrace up to the line to retest it, but I expect any bullish movement to be temporary. 

This trend line combined with the 2 shorter ones from my previous post make a good case for selling EURJPY.

I expect EURJPY to reach the target of 123.50 and possibly lower. This can be a 300 pip trade with low risk if traded.
#2 - December 28, 2018, 02:50:23 PM
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Since my last post, EURJPY has fallen and my target for EURJPY has been reached.

I am now expecting a bullish bounce. At least a momentary bounce. Price has fallen to a monthly trend line and it has survived the crash yesterday. It looks like it will hold as support.

Target is 124.50. This is about 200 pips profit from the time of this post.
#3 - January 03, 2019, 09:42:09 PM
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EURJPY Trend Lines in Technical_xx
Today's Technical Analysis for: EUR/JPY

According to H4 time Frame, it seems to be
Today Market Trend is : BEARISH


Resistance Level are:-

1> Resistance Level is : 124.63
2> Resistance Level is : 124.69
3> Resistance Level is : 124.77

Supporting Level are:-

1> Supporting Level is : 124.50
2> Supporting Level is : 124.38
3> Supporting Level is : 124.29



#4 - January 10, 2019, 06:53:40 AM

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The bullish bounce I expected for EURJPY occurred and my target was reached.
#5 - January 14, 2019, 11:29:11 AM

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Here is a nice trend line on the H1 that is about to break. I currently don't have a long-term outlook for EURJPY, but this is a good and fast trading opportunity here.
#6 - January 17, 2019, 12:18:06 AM
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Here is the result of the last trend line on the EURJPY H1 chart. Price fell about 50 pips. This could have been a trade with low risk and high reward.
#7 - January 17, 2019, 11:15:16 AM
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Here is another trend line on the EURJPY H1 that is about to break. Also, price is near an important resistance level of 125. I am expecting price to drop.
#8 - January 18, 2019, 01:18:00 PM
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Here is another trend line on the EURJPY H1 that is about to break. Also, price is near an important resistance level of 125. I am expecting price to drop.
That was a good signal!
#9 - January 18, 2019, 03:29:37 PM

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My analysis of EUR/JPY

Resistance and Supporting level today,s

Today Trend is:bULLISH

Resistance level today,s is

First Resistance is:125.12
Second Resistance is:125.20
Third Resistance is: 125.29


Supporting levels today,s is

First Support is: 125.02
Second Support is:124.93
Third Support is:124.85
#10 - January 30, 2019, 03:43:19 AM

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Here is the result of what happened after my last post. Price started dropping and fell 100 pips with almost no draw down. 
#11 - January 30, 2019, 06:49:21 PM
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Here is the result of what happened after my last post. Price started dropping and fell 100 pips with almost no draw down.
For this EJ movement the main direction of my analysis is still in the Bullish trend, bro, even on Friday it was able to breakout its resistance area and form a new resistance on H1. However, it seems that it will correct the down first to answer the bullish series pattern with sell targets up to 125.330. after that it will likely continue its bullish trend



#12 - February 05, 2019, 04:07:18 AM

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Prices are below the daily pivot 125.48.
The small MA is below the MA the price is between the two MAs.
The price forecast will be bearish, but retrace will occur first with the initial Support target 1.
Possible to penetrate up to Support 2.

#13 - February 06, 2019, 06:39:29 AM
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Also watching the EJ pair this afternoon. It seems like the volatility of the Asian session was quite volatile at around 40 pips from high to low. For the execution I consider levels 125.02 for long positions and 124.66 for short positions with notes broken validly
#14 - February 07, 2019, 10:11:38 AM

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In daily charts, JPY is sustaining above 50DMA (111.82), which is major support on the daily chart. 14-D RSI is currently in overbought region and chances of downward are expected based on RSI. MACD is above zero line but histograms are in decreasing mode which might lead to downward movement. The Stochastic Oscillator is approaching overbought territory and signaling to buy as it has given positive crossover to confirm bullish stance.
#15 - February 07, 2019, 12:41:43 PM

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