The EURJPY is ranging between its 4H 50 and 200 SMAs.

To end my analysis this Wednesday, I am updating a new one for this cross pair.

Yesterday’s trade plan has quickly exited in another loss with only 3 hours holding time:

https://www.finlogix.com/analysis/20240402/eurjpy-intraday-analysis-and-trading-plan-for-april-2-2024

Join me again as I continue. I’m sure I will get my first win soon.

The only European economic report which is the German Prelim CPI month-over-month has concluded with a lower than forecast result.

There are no major Japanese economic reports this week.

Re-assessing EURJPY’s high timeframe candles:

Yearly Candle: Still a Green Body with a Longer Head Wick since last check

Monthly Candle: Last check is a Red Hammer now a Green Semi Dragonfly Doji

Weekly Candle: Last check is a Red Body with a Longer Tail Wick now a Green Semi Dragonfly Doji

Daily Candle: : Previous close is a Green Spinning Top current is a Green Body

The EURJPY bulls have halted the bears' attempt in breaking the 162.80 down to 162 levels.

As mentioned in this article’s first sentence, the cross pair is currently ranging between the 4H SMAs.

The 50-SMA in the upper range while the 200-SMA in the lower.

My analysis yesterday regarding a price correction already happening might have ended after a strong intraday candle opening.

For now, the pair is heading north again.

I will continue from being a seller even after a quick stop out yesterday.

With the 4H 100-SMA adding more support confluence, I’m looking to see if the current 163.45 resistance gets broken first attempting a breakout on the 4H.

From what I’m seeing, the EURJPY can make either a real or false breakout as high as 163.61-81 levels.

This coming move might also look like a breakout on the current downtrend after March’s peak.

I’m going to short again with the following orders:

Whether there’s an incoming breakout or just a buy side liquidation, I will keep shorting the EURJPY.

Let’s see how this one goes and good luck.

EURJPY Intraday Analysis and Trading Plan For April 2, 2024

Apr 03 2024

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