EURJPY DAILY TECHNICAL ANALYSIS ๐ฏ
๐ง EURJPY Hovers Near Mid-Range โ Buyers Aim to Reload Below 162
OVERALL TREND
๐ UPTREND โ Price structure is forming higher pivot lows with rejection from the March 2024 lows. Bullish intent is sustained unless structure breaks below 153.16.
๐ดRESISTANCE
๐ฏENTRIES & TARGETS
๐ขSUPPORT
๐STRUCTURAL NOTES
TRADE OUTLOOK ๐
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE SWING SETUP (Trend-Following):
โ Buy Entry: 160.51
โ TP Levels: 164.29 / 166.92 / 170.97
โ SL: 153.16
AGGRESSIVE REVERSAL SCALP:
โ Buy Zone: 154.27 or 156.64
โ TP: 160.51 / 164.29
โ SL: Below 153.16
โDiscipline | Consistency | PAY-tienceโขโ
๐ง EURJPY Hovers Near Mid-Range โ Buyers Aim to Reload Below 162
OVERALL TREND
๐ UPTREND โ Price structure is forming higher pivot lows with rejection from the March 2024 lows. Bullish intent is sustained unless structure breaks below 153.16.
๐ดRESISTANCE
- ๐ด 175.428 โ SELL STOPLOSS | PIVOT HIGH
- ๐ด 175.046 โ RESISTANCE (MAJOR)
- ๐ด 174.327 โ 172.100 โ SELL ORDER RANGE
- ๐ด 166.558 โ RESISTANCE (MINOR)
๐ฏENTRIES & TARGETS
- ๐ฏ170.975 โ BUY ORDER & TP 4
- ๐ฏ166.924 โ BUY ORDER & TP 3
- ๐ฏ164.296 โ BUY ORDER & TP 2 (MID PIVOT)
- ๐ฏ160.511 โ BUY ORDER & TP 1
๐ขSUPPORT
- ๐ข 156.830 โ SUPPORT (PROXIMAL)
- ๐ข 156.642 โ 154.277 โ BUY ORDER RANGE
- ๐ข 154.837 โ SUPPORT (MAJOR)
- ๐ข 153.164 โ BUY STOPLOSS | PIVOT LOW
๐STRUCTURAL NOTES
- Price recently stalled beneath the 162.000 zone โ consolidation here indicates indecision, but no structural break yet
- Triple rejection noted between 160.51 โ 166.92 range, with multiple higher lows beneath โ suggesting accumulation
- Sellers activated at 172.10 and 174.32 levels, both aligned with visible pivot highs
- Mid Pivot at 164.296 is a key inflection point โ watch for buyer-seller battle here
TRADE OUTLOOK ๐
- ๐ Long bias maintained above 160.51 and especially if price confirms a bounce from 156.64 or 154.27 zones.
- ๐ Bearish momentum could resume if price fails to hold above 153.16, breaking the most recent pivot low.\
- ๐ High reward setups exist between 154.27 โ 160.51 for re-entry into the broader uptrend
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE SWING SETUP (Trend-Following):
โ Buy Entry: 160.51
โ TP Levels: 164.29 / 166.92 / 170.97
โ SL: 153.16
AGGRESSIVE REVERSAL SCALP:
โ Buy Zone: 154.27 or 156.64
โ TP: 160.51 / 164.29
โ SL: Below 153.16
โDiscipline | Consistency | PAY-tienceโขโ
Professor C. E. Ward
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Professor C. E. Ward
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.