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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
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)
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.
Spoiler:
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
The Euro was higher against the Japanese Yen on Friday.
EUR/JPY was trading at 101.54, up 0.27% at time of writing.
The pair was likely to find support at 100.15, Thursday’s low, and resistance at 102.45, Monday’s high.
EUR / JPY is testing resistance at 101.70, after successfully penetrating into the down trendline shown in graph 1 hour. If the resistance is broken, the EUR / JPY is likely to move towards 102.06. However, the correction is likely to occur because of indications have been seen on overbought Stochastic and CCI 1 hour.
Trend is expected today: UP
Powerful region today: 101.10
Pair above 101.10 to buy the following objectives 101.60 then 102.30
The pair down 101.10 for sale the following objectives 100.70 then 100.25
Again, a couple came close to the 101.80 resistance seems nevertheless held that the breach of this level should open the way further north up to the medium level of 102.78 (maximum of the week) as a 4 hour chart is developing a northern signal MASD.
I think that the couple today still continue the path north until a noticeable pause and testing support for 101.65 (around her are also moving alligator) from it and I expect to continue growing, stop below 101.50.
After the pair's attempts to trade the broken bottom of the rising channel, price stability could not negative level to settle the price to rise again above the channel's support level around 100.50.