# EURJPY Retracement Setup (Oct 21, 2014) Source: https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/ Language: en Updated: 2014-10-21 Description: Explore EURJPY Retracement Setup (Oct 21, 2014). EURJPY has pulled. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURJPY has pulled up from its continuous dive in the past month and appears to be making a quick correction. For now, it is stalling at the 38.2% Fibonacci level, which is aligned with a former support zone and the 136.50 minor psychological resistance. Stochastic is indicating overbought conditions, which confirms the potential return of sellers and a possible drop to the previous lows around the 134.00 area. At the same time, the 100 SMA has just crossed below the 200 SMA, reflecting a pickup in selling pressure. MACD is moving higher though, which means that a higher correction is still possible. The 200 SMA lines up with the 138.00 handle and the 50% Fibonacci level, which might also act as resistance. Shorting at market with a stop above the 61.8% Fib or 138.50 and aiming for new lows could work for a longer-term trade. Adjusting the stop to entry once price tests the previous lows around 134.00 could be a good way to reduce risk ahead of key events. ![EURJPY Retracement Setup (Oct 21, 2014)] The event risks for this trade include the release of the German and French manufacturing and services PMIs later this week, with weak data likely to spur another round of euro selling. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/#primary", "url": "https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/", "headline": "EURJPY Retracement Setup (Oct 21, 2014)", "inLanguage": "en", "datePublished": "2014-10-21T06:46:34+00:00", "dateModified": "2014-10-21T06:46:34+00:00", "articleSection": "Market Info", "description": "Explore EURJPY Retracement Setup (Oct 21, 2014). EURJPY has pulled. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURJPY Retracement Setup (Oct 21, 2014)", "item": "https://www.tradersway.com/resources/market-info/eurjpy-retracement-setup-oct-21-2014/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```