The EUR/JPY dropped 126.15 and bottoming in this week，and keep a perfect rising trend，I think there is a bigger rise if the EUR/JPY break the the resistance line（128.8）
thank you!
To be honest with you I see EURJPY right at the resistance level and no clear signal in either direction.
At the same time EURUSD is pointing down and should continue the downtrend from Monday.
And finally the big opportunity on the USDJPY that should make a final and probably strong move up before starting longer term decline.
IMHO
My thoughts since the end of January:
Dude, get short EUR/JPY.
I am short and I will get out of some of the position on the next 4 week high and close more on the next 10 week high. If I was not already short I would go short on the next 10 day low with my stop above the 20 week high.
-Adrian
That was my thought, i’m only a noob and only trade a demo account but short at 128.50 in virtual trade so be interesting to see what happens, have to start somewhere while learning but support and res seems a good place to start.
@pro4Xtrader
I am sorry,I didn’t see the obvious trend that the EUR/USD is pointing down，and the I feel it is similar with the EUR/JPY the trend is point up in the short term.can you share your analysis method。
thank you！
I am as green as grass to forex trading but my thought on the EURJPY from the daily chart is look for a candle formation/ confirmation bounce from the downward trend line and then trade it short by the time the bear candle formation forms we should be in the over bought zone on the stochastic. Any thoughts if my theory holds value as i am learning and feedback is welcome.
I think alot of people are going to be looking to short the EURJPY in the coming days. I have almost the same the Trend lines that leepolaris drew. im looking to short where my lines meet.
Idk why but when i upload pictures straight from my computer the image quality sucks. anyone know why ? thts why i use dropbox and use the link.
[QUOTE=“leepolaris;695487”] I think the downward trend line should be over there.[/QUOTE] thanks for the tip its the little things that can make a difference between a good signal and a false signal i appreciate it.