EUR/JPY Anytime!

EJ has just gone a bit lower than it’s previous min level, and right after that started to climb higher. It seems, that wave 4 has already formed and it is going to start the upside move. The scenario is proved by Sto lines position both at 1H and 4H charts.

My trading parameters for EJ didn’t change: buy order, SL below 122.2, 1st TP @124.8

The actual screenshot you can explore through the link in the signature.

Hi, traders!

Here is what I see on EJ. Any comments?

Just my humble opinion.

HMm setup is ok but you must know fundamental also,japan indystry growing and other countries going to help that more very soon,expect up side but this is forex and we cant be 100 % sure




Cheers

Lets hope it comes back down.

OK guys i have another setup on eurjpy i took it before 5 minutes... I read some news about Japan news and i must say that just confirm my trade...I took buy becouse i have 2 strong reasson...One is Good retrace on daily chart from 61.8 and second is good RSI and 50 SMA combination

Took buy (two positions) at 124.05 Sl 122.65 First TP 125.40-125.30 and Second will falow if go to my direction...

I wish you many pips,this is forex and we can be 100 % sure...

Tokyo stocks inched higher Thursday in directionless trading, with financial shares such as consumer lenders and banks advancing, but gains were capped by profit-taking after the previous day’s sharp rise. The 225-issue Nikkei Stock Average closed up 28.86 points from Wednesday at 10,335.69. The broader Topix index of all First Section issues on the Tokyo Stock Exchange gained 0.10 point to 904.73.

Stocks rose at the outset after U.S. shares advanced Wednesday on a positive economic assessment by the Federal Reserve and Japanese exporters were buoyed by the dollar’s climb into the lower 91 yen range. But gains were gradually pared as investors turned to locking in profits given the key Nikkei index’s jump of almost 3% Wednesday, sending the indexes in and out of negative. The Nikkei recovered some poise in the afternoon with support from gains in financial shares, brokers said.

Cheers

EURJPY pattern I introduced yesterday is still actual (the common view is shown at 30min chart).

At lower timeframes EJ has already made 5-wave pattern, it can be the first part of bullish wave 5, that is marked at 30 min chart. Before the uptrend continues, we should see a retracement to the latter upside move. Wave 2, correction to the first wave, will be confirmed only if price goes lower than 123.77 level.

If EJ goes higher before reaching mentioned point, it’ll be a sign of extended wave 3 or 5 (at 5 min chart).

In common, EJ has enough space to continue moving in a bullish direction. I suppose it’ll reach at least 125.5 level.

If you place buy orders at EJ, you can set up SL @ 122.7 (initial) and 122.2

The charts describing my pattern you can explore through the link in the signature.

Thanks for the tip lads.

any idea how this pair will do during the first hour of the london sesion? i have a was opened long position on 124.30 , im afraid about my margin.. please help..

thanks.

Dont panic man your SL amd dont risk more that 3 % per trade and you will trade more comfortable

Im long as well.

dr. pip

what are the chances we get a 100 pip rally?

Hi Petar_Serbia. i ussialy didn't write since my english is not so good, but i usully pay attention to your charts and comments.. .

by the way i didn't use SL. i don't know if im doing wrong. about what you mean whith AMD?

thanks.

I'd say EJ is limited to 124.80 max if going long today.

Why is that? When the euro was relentlessly getting sold off e/j held its ground. Right now the japanese automaker industry is in really tough shape, japans main gdp is exports thus they are going to get hurt. They where also very mull with there economic report that came out. If ihad to pick the lesser of 2 evils it would be long euro......LONG EURO.

Today,look i took setup according my setup,i dont have bad trade from december on this one of my favorite pair I dont expect biger moves today on any pair but we will see i have Sl and TP and i am free

Plan very soon to open EURUSD buy but i wont be at home to do that for 1,2 h...



CHeers

After almost 12 trading hours EURJPY is still trading in the range of possible bullish wave 1 (122.7-124.4), its status will be confirmed only after breaking the upper line.

The retrace may have finished, it has the wave pattern 3-3-3 (also it is possible, that it’ll make another bearish wave and the pattern will transform in 3-3-5). Nevertheless, we can tell for sure, that the latter downside direction of the move is exactly the correction, but not a new impulse. The proof is shown at 5 min chart (click on the link below to expand all the charts): part 2 of the retracement climbed higher, than the previous max level.

Thx for your great analisys, Petar. As usual you are the best

BTW, do you trade using your RTFG system?

My system gives me long entry only now, but I'm stil kind of hesitating.
I went long yesterday as well, but took out 60 pips right before the move back

A few minutes ago EURJPY made another high at low TFs. It’s just broken the max level of wave 3 (shown on 5min chart), right now price action is forming wave 5. It’s likely, that this 5-wave pattern becomes the first part of a bullish impulse.

At 1 min chart a scalping idea is inroduced. The wave 5 is shown in detailed view. If this analysis is right, it hasn’t formed finally yet. It could make another retrace and then continue upside move in order to finish part 5 of wave 5.

2 charts explaining this scenario are attached to the link in the signature.

Tnx my friend

I trade my private sistem. Renko is still test phase when i have time to test...


Cheers and happy piping