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EJ

EURJPY - Mar. 6th, 2024BUY/LONG ZONE (GREEN): 161.550 - 166.700 DO NOT TRADE/DNT ZONE (WHITE): 159.750 - 161.550 SELL/SHORT ZONE (RED): 155.710 - 159.750 Monthly: Bullish Weekly: Bullish Daily: Bullish 4H: Bullish Previous bearish trend has been labeled along with the DNT area and the initial bullish zone that price broke into to flip the trend. Currently price is onto the next bullish zone and structure is holding well in step up patterns. Price has already tested 163.450 twice on the daily, looking for 4h structure to develop back as bullish and test a third time, or for price to pullback down to the 161.900 level at the top of the zone. It would be more risky if price pulls back to 161.900 level as this would be the second test (daily timeframe) after the 4h price had confirmed it as bullish. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
Long
by TonyAiello
1
EURJPY Buys Rolling Have a trade floating open on EJ currently I'd like to explain why I took this trade I have 5 questions I needed to get answered, they are as follows Question 1 - Is EURJPY in momentum (bullish or bearish)? Question 2 - Who is interested (at this time)? Question 3 - Where are their stop losses? Question 4 - Have those stop losses been taken out? Question 5 - Does the set up make sense to me to pursue? So let's answer those questions Q1 - Ej is in bullish momentum (confirmation on the higher timefram) Q2 - Buyers would have been interested above this level (orange zone) Q3 - Buyers stop losses would have been below the zone (orange line) Q4 - Buyers stops may have been taken out with that recent spike low Q5 - Yes, I do think it makes sense for me to attempt to pursue a trade on this asset So far it is just about 20 pips in profit, but with a 10 pip stop loss this trade literally just needs to go about 50 pips or so to give me a 1:5+ Upvote if you agree with my reasoning OR Downvote if you didn't read and didn't attempt to understand my reasoning Look at Ej for yourself to see if you think buys would have made sense to you here
Long
by Brandon_evo4
EURJPY 💶/💴The Daily candle just closed at 147.58. This price was our previous Daily Level. Price is still technically in a range between this price and 146.71. After spiking up to previous Monthly High at 148.4, we rejected those extreme prices and came flying back down into the current range right now. Price may continue bearish from here and we can call it a Fakeout as price failed to stay above 147.58 Daily level initially. Returned back into the range, tocuhed bottom of range, now price is coming back up for a last retest before returning back to the bottom of the range at 146.71.
Short
by ShrewdCatfx
EURJPY - AS EXPECTED, WAIT FOR THE SHIFT!Last week I shared my reasonings for the likely continuation on EURJPY, as we can see from the chart, we have now entered a major supply area of which I will be looking to go short after a market structure shift on the lower timeframes. (15m/5m) There will be lots of fake moves/manipulations in this area due to it being a major zone. So remain patient, be vigilant and enter shorts ONLY when confident the environment is changing. I will post further updates as necessary, good luck! Best wishes, Jake
Long
by jmw2000
2