I am a bear on the JPY and bias is based on the USD 10Y TNote.

EURJPY - Daily

The Market (55 above 21) is flat. The Price (8 above 5) is flat. Stochastic is above 20 line, turning up. MS2/118.5 is support.

EURJPY - H4

Market (55 above 21) is flat. Price (5 above 8) is bullish. Stochastic is moving up. Price opened at the WM2, which is the bull buy zone and as per pivot point theory, the target is WM4. I expect price to find resistance at WM3/119.5 and find support at WPP/119.0/MS2, after which I will look for a buy entry.

EURJPY - H1

Market (55 above 21) is flat. Price (5 above 8) is bullish. Stochastic is overbought. Price has been at WPP/119.0/DM3 for the last 5 hours, which also Resistance. I expect price to break through that resistance level and move up to find resistance at WM3. After price has retrace back to WPP/119.0/DM3, I will look for a buy entry on the M1 chart.

2 thoughts on “EURJPY – Buy Entry Trade Plan (27 Feb 2017)”

  1. Hadeer Younis says:

    Nice analysis on this pair. Makes sense to me.

    I just posted the same pair but I’m a bear on it. Check out my analysis and let me know what you think.

    1. Hadeer Younis says:

      Sorry just realized you posted this few hours ago. It reached the level just as you predicted. Glad I entered that trade at market open yesterday. What do you think will happen now that it reached WM3?

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