Region became 101 support and the bottom area are estimated second pair to the upside
But this trend and from my point of view is still corrective direction
And await the arrival of the pair to our 105
Then define the new direction his
Printable View
Region became 101 support and the bottom area are estimated second pair to the upside
But this trend and from my point of view is still corrective direction
And await the arrival of the pair to our 105
Then define the new direction his
EURJPY had been rejected by the 101.30 support level yesterday. But if I see on the chart, the rejection is not too strong. So, I think EURJPY may breaks 101.30 support level and continue falling to the lower support level at 100.43. But if fail to break, EURJPY has a an opportunity to rise and touch 102.19 resistance level.
Spoiler:
The euro firmed against the yen on Tuesday after investors viewed the single currency as oversold and snapped up nicely priced positions.
Stronger-than-expected balance of payments data out of Japan pushed the yen down somewhat.
In Asian trading on Tuesday, EUR/JPY hit 101.64, up 0.05%, up from a low of 101.56 and off a high of 101.77.
The pair sought to test support at 101.13, Monday's low, and resistance at 101.77, the earlier high.
The euro and other higher-yielding currencies fell earlier after the World Bank and the International Monetary Fund cut global growth figures.
The World Bank earlier cut its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%.
The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%.
The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.
However, the euro gained against the yen after stronger-than-expected current account data published in Japan.
In a report, Ministry of Finance said that Japan’s Current Account rose to a seasonally adjusted 0.72T, from 0.34T in the preceding month.
Analysts had expected Japan’s Current Account to rise 0.52T last month.
The news enticed a few bargain hunters to go long on the euro albeit in choppy trading.
The euro, meanwhile, was up slightly against the pound and down against the Canadian dollar, with EUR/GBP trading up 0.01% at 0.8092 and EUR/CAD trading down 0.08% at 1.2659.
Later Tuesday, eurozone finance ministers will hold talks to discuss ways to firewall and extinguish the debt crisis.
---------- Post added at 08:59 AM ---------- Previous post was at 08:58 AM ----------
The euro rose against dollar on Tuesday as investors felt the currency fell enough due to ongoing European uncertainty and cuts to global growth forecasts made by multilateral financial institutions.
In Asian trading on Tuesday, EUR/USD was trading up 0.10% at 1.2981, up from a session low of 1.2974, and off from a high of 1.2985.
The pair was likely to test support at 1.2938, Monday's low, and resistance at 1.2985, the earlier high.
The euro slid earlier against its U.S. counterpart as investors awaited the outcome of a meeting of E.U. ministers this week as well as German Chancellor Angela Merkel's first trip to Greece since 2007.
Merkel's visit takes place as representatives from Greece's Troika of international creditors — the ECB, the European Commission and the International Monetary Fund — mull whether the country is meeting terms required to receive its next shot of financial aid.
Hard economic data didn't support the euro either.
The Sentix index of investor confidence for the eurozone for October improved albeit less than expected, ticking up to -22 from a reading of -23.2 the previous month.
Analysts had expected the index to improve to -20.8.
Meanwhile in Europe's largest economy, Germany's industrial production fell 0.5% in August, less than an expected decline of 0.8%, but still off from a 1.2% increase in July.
Macroeconomic forecasts sparked safe-haven dollar demand as well.
The World Bank reported earlier that the eurozone economy will expand 0.2% in 2013, down from a 0.7% forecast made in May, which prompted investors to sell the single currency.
Bearish views on Asia, however, fueled strong demand for the safe-haven dollar.
The World Bank earlier cuts its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%.
The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%.
The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.
Meanwhile, the European Stability Mechanism is now up and running with EUR200 billion in resources to assist troubled countries, though Spain has officially yet to request a bailout, which kept the euro lower.
By early Asian trading, however, investors felt the euro had weakened enough and snapped up nicely priced positions amid bottom-fishing.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.03% at 0.8094, and EUR/JPY trading up 0.12% at 101.70.
Later Tuesday, eurozone finance ministers will continue to hold talks to discuss ways to firewall and extinguish the debt crisis.
---------- Post added at 09:01 AM ---------- Previous post was at 08:59 AM ----------
The euro rose against dollar on Tuesday as investors felt the currency fell enough due to ongoing European uncertainty and cuts to global growth forecasts made by multilateral financial institutions.
In Asian trading on Tuesday, EUR/USD was trading up 0.10% at 1.2981, up from a session low of 1.2974, and off from a high of 1.2985.
The pair was likely to test support at 1.2938, Monday's low, and resistance at 1.2985, the earlier high.
The euro slid earlier against its U.S. counterpart as investors awaited the outcome of a meeting of E.U. ministers this week as well as German Chancellor Angela Merkel's first trip to Greece since 2007.
Merkel's visit takes place as representatives from Greece's Troika of international creditors — the ECB, the European Commission and the International Monetary Fund — mull whether the country is meeting terms required to receive its next shot of financial aid.
Hard economic data didn't support the euro either.
The Sentix index of investor confidence for the eurozone for October improved albeit less than expected, ticking up to -22 from a reading of -23.2 the previous month.
Analysts had expected the index to improve to -20.8.
Meanwhile in Europe's largest economy, Germany's industrial production fell 0.5% in August, less than an expected decline of 0.8%, but still off from a 1.2% increase in July.
Macroeconomic forecasts sparked safe-haven dollar demand as well.
The World Bank reported earlier that the eurozone economy will expand 0.2% in 2013, down from a 0.7% forecast made in May, which prompted investors to sell the single currency.
Bearish views on Asia, however, fueled strong demand for the safe-haven dollar.
The World Bank earlier cuts its 2012 growth forecast for developing Asia-Pacific economies to 7.2% from a May forecast of 7.6%.
The World Bank also said China's economy will growth 7.7% this year, down from a May forecast of 8.2%.
The International Monetary Fund, meanwhile, cut its 2012 global growth forecast to 3.3% from a July estimate of 3.5%.
Meanwhile, the European Stability Mechanism is now up and running with EUR200 billion in resources to assist troubled countries, though Spain has officially yet to request a bailout, which kept the euro lower.
By early Asian trading, however, investors felt the euro had weakened enough and snapped up nicely priced positions amid bottom-fishing.
The euro, meanwhile, was up against the pound and up against the yen, with EUR/GBP trading up 0.03% at 0.8094, and EUR/JPY trading up 0.12% at 101.70.
Later Tuesday, eurozone finance ministers will continue to hold talks to discuss ways to firewall and extinguish the debt crisis.
Eur/jpy technical analysis for 09.10.2012 by using : Auto pivot indicator.
resistance 3:103.80
resistance 2:103.17
resistance 1:102.38
pivot point :101.75
support 1:100.96
support 2:100.33
support 3:99.54
Price move in upper hma 32 line. This indicates that price shown in bullish trend for short term. If we look signal stochastic condition in tf h1 had shown in overbought level, that estimated for price to retrace down before go up again.
EURJPY: The signal is still unclear, Watch range 101.34 - 101.71
The movement of the two groups of EMA and EMA-Term Short-Term Long still showed definite signal, in which two groups of EMA has not found the middle of the intersection, so the gap is still not open. But by looking at the movement of the MACD, indicator figures seen moving close to zero (0) which has the potential to move up. Stochastics indicator is also moving in the same pattern, where the indicator numbers start showing up towards the movement patterns of area 80, although it is still held above the area 50. If the price keeps going up, then the resistance will be in the range of areas of 101.71 (61.8% Fibonacci), 101.85 and 102.08 (Fibonacci 100%). However it is not possible prices move down, where the price will be welcomed range support at 101.60 (50% Fibonacci), 101.48 (38.2% Fibonacci) and 101.34 (23.6% Fibonacci).
EURJPY had been rejected by the 101.30 support level yesterday. But if I see on the chart, the rejection is not too strong. So, I think EURJPY may breaks 101.30 support level and continue falling to the lower support level at 100.43. But if fail to break, EURJPY has a an opportunity to rise and touch 102.19 resistance level.
Buy Limit AUDUSD 1.018 SL 0.998
Sell Limit EURJPY 102.0 SL 104.0
Sell Limit EURUSD 1.305 SL 1.325
...
Until further reduce 200 prevents sliding on the hourly chart, the pair is consolidating around it for several hours, as MASD formed divergence would consider buying at strengthening up 101.35, the sale is moving at break 200.
On the H1 chart, the price is below 12 EMA and 72 EMA indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
RECOMMENDATION: SELL
Take profit: 100.83