EURJPY SHORT
EURJPY SELL
Take Profit 1 - 154.94
Take Profit 2 - 154.44
Take Profit 3 - 153.94
Stop loss - 156.74
here is my more in-depth analysis of EURJPY:
The EURJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 155.74, and a sell entry point of 155.74 is just above the recent low of 155.54.
There are a few reasons why EURJPY could continue to fall in the near term. First, the EUR is generally seen as a safe haven currency, and it has been weakening against the JPY in recent weeks as concerns about the global economy have grown. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair.
Technical analysis:
From a technical perspective, the EURJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair. The Japanese economy is also facing some headwinds, but at a slower pace than the Eurozone economy. This could lead to a relative outperformance of the JPY against the EUR in the near term.
Risks:
There are a few risks to consider before entering a trade on EURJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the EURJPY pair. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair.
Overall:
I think EURJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on EURJPY:
The economic outlook for the Eurozone and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
Take Profit 1 - 154.94
Take Profit 2 - 154.44
Take Profit 3 - 153.94
Stop loss - 156.74
here is my more in-depth analysis of EURJPY:
The EURJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 155.74, and a sell entry point of 155.74 is just above the recent low of 155.54.
There are a few reasons why EURJPY could continue to fall in the near term. First, the EUR is generally seen as a safe haven currency, and it has been weakening against the JPY in recent weeks as concerns about the global economy have grown. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair.
Technical analysis:
From a technical perspective, the EURJPY pair is trading below its 200-day moving average, which is a bearish signal. The pair is also forming a bearish descending triangle pattern, which is a continuation pattern that typically leads to a breakout to the downside.
Fundamental analysis:
The Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair. The Japanese economy is also facing some headwinds, but at a slower pace than the Eurozone economy. This could lead to a relative outperformance of the JPY against the EUR in the near term.
Risks:
There are a few risks to consider before entering a trade on EURJPY. First, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the EURJPY pair. Second, the Bank of Japan is expected to continue to pursue an ultra-loose monetary policy, which could put downward pressure on the JPY. Finally, the Eurozone economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on the EUR and lead to a decline in the EURJPY pair.
Overall:
I think EURJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.
Here are some additional factors that you may want to consider before entering a trade on EURJPY:
The economic outlook for the Eurozone and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
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