SubscribeEur/jpy technical analysis for 12.10.2012 by using : Auto pivot indicator.
resistance 3:103.56
resistance 2:102.65
resistance 1:101.96
pivot point :101.05
support 1:100.36
support 2:99.45
support 3:98.76
Thread: Eur/Jpy
Eur/jpy technical analysis for 12.10.2012 by using : Auto pivot indicator.
resistance 3:103.56
resistance 2:102.65
resistance 1:101.96
pivot point :101.05
support 1:100.36
support 2:99.45
support 3:98.76
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EURJPY had broken the 101.30 resistance level yesterday. I think now EURJPY still in bullish trend. If EURJPY can break the yesterday's high, I am sure this pair will go up today and the target is at around 102.19 as the next resistance level of EURJPY.
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Eur/jpy had shown in overbought condition after retrace up from opening level price ago. Trend for short, medium and long term also show up strong. This condition can make price will continue rise until break weekly pivot level (101.70)
Today’s technical analysis for 12.10.2012
Price is open above the pivot point- 101.03
Resistance 3- 103.47
Resistance 2- 102.59
Resistance 1- 101.91
Pivot point- 101.35
Support 1- 100.35
Support 2- 99.46
Support 3- 98.79
Japan's currency today is reduced throughout the market, so for EUR / JPY has a line break downstream and still struck the horizontal resistance level 101.10, so I went to a couple of U-turn, and the first goal it will be 102.60
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Although the single currency has fallen again after meeting renewed selling interests at 101.16 and the fall from 102.80 may extend marginal weakness below psychological support at 100.00, as outlook is still consolidative, previous support at 99.65 should limit downside and further choppy trading would take place. Above 101.16 (yesterday’s high) would suggest low is possibly formed, bring a stronger rebound to resistance at 101.84, break there would signal the fall from 102.80 has ended and bring a stronger round to 102.20-30 first
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Pair made today tug on top and that's sort of the level of support is drawn but I think he would not survive, it is seen that a couple of his draws down, so that the current rise may result in a fall tomorrow ... the trend is yet ... and such cases are usually returned back ...
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as we have a support level on the daily chart @38.2% then i predict that EURJPY will move upward on the short term so i suggest buying this pair now our target point will be@50%.
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Japan's currency today is reduced throughout the market, so for EUR / JPY has a line break downstream and still struck the horizontal resistance level 101.10, so I went to a couple of U-turn, and the first goal it will be 102.60 ....
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Really strong movement has made in the last couple of hours, after that tend to expect the correction, but about selling now be forgotten, I now target the north, I think a week to a maximum of 102.70 should go.
Originally Posted by zola18
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Continuing negative impact on the trading price since yesterday has been breached bullish channel and price since the morning trying to test the broken level of the channel around 100.60
Stochastic is approaching oversold level I support now bearish trend for the pair
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