how to trade with profits on the eur jpy

EUR JPY forex live charts this week |How to trade with profits?

Today we present the updated Forex live chart for EUR JPY.

If you trade currency pairs and forex, you have probably asked yourself this question: How to trade with profits? Newbies who are learning how to day trade should read our many guides and insights and study different charting software and tools.

Experienced intraday traders can explore more advanced topics such as automated trading and how to make a living on the financial markets. The golden key is to have a strategy that actually works, and if you have that and combine it with fresh forex signals, you can make some amazing Pips already this week!

how to trade with profits on the eur jpy

EUR JPY Forex trading tips 

I use pivot points and target trading for the direction of trades for my forex analysis. Let’s check where the EUR JPY may lead us for the next days and weeks.

MONTHLY shows this pair has two targets. The first target is at 123.900 – 226 pips below the current position; the second target is at 118.044 – 805 pips below the current position. The rsi and cmo are in the middle headed to the sell zone indicating there is further up movement to come from this pair.


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Weekly shows three targets. The first target is at 125.746 – 42 pips below the current position; the second target is at 123.993 – 212 pips below the current position; the third target is at 122.525 – 365 pips below the current position. The rsi and cmo is in the sell zone and appears ready to head down to the buy zone. However this pair also has some up movement to come first before heading back down, therefore confirmation of this trade moving down is needed before placing a sell trade in this time frame.

DAILY shows two targets. The first target is at 127.103 – 105 pips above the current position; the second target is at 125.249 – 82 pips from the current position. The rsi and cmo are in the middle and appears to be headed up to the sell zone.

EUR JPY in the news

SUPPORT & RESISTANCE 

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Retail trader data shows 27.30% of traders are net-long with the ratio of traders short to long at 2.66 to 1. The number of traders net-long is 32.40% higher than yesterday and 3.04% higher from last week, while the number of traders net-short is 35.41% higher than yesterday and 79.26% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/JPY prices may continue to rise.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.

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adx indicator eurjpy
The ADX indicator is still in sell mode for the EURJPY. You see several strong sell trends recently for this currency pairs. Using the adx indicator is really a helpful tool to find good sell trades!
EUR JPY shows incomplete sequence from May 4 low favoring more upside.
EUR JPY Daily Analysis Forecast for Tuesday July 7 2020

n the bigger picture, whole down trend from 137.49 (2018 high) could have completed at 114.42 already. Rise from 114.42 would target 61.8% retracement of 137.49 to 114.42 at 128.67 next according to ActionForex.

Forex forecast 06. July 2020 on EUR/JPY by TradingGold:
We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week.

We provide new forex live charts every week

Do you want to learn more about 7 of the most successful forex traders ever? We have just presented a very interesting list of legends of the Forex industry! If you want to learn some really effective Forex strategies, you should check out this article. Like every week, I’m super excited to share my fresh forex day trading tips with you, and I hope that everyone can maximize their profits based on my accurate forex trading signals.

Was it helpful that I shared my signals with you here in the Forex and Profits community? What do you think will happen next with the AUD USD and EUR JPY currency pairs? I’d love to know what you thought of this article. Feel free to like, share, and comment in our Forex and Profits Club on Facebook.

Enjoy the week, and see you next time!

Disclaimer:

Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky. Consider all the risks carefully before investing in the Forex Market. Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only a general information and market commentary, thus, does not incorporate investment advice.

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