Eur/Jpy

Eur/jpy technical analysis for 17.10.2012 by using : Auto pivot indicator.

resistance 3:104.76
resistance 2:103.93
resistance 1:103.46

pivot point :102.63

support 1:102.16
support 2:101.33
support 3:100.86

Bias and the pair are Bullish Momentum, beware when the pair perform the range retracement level of 102.80 which is a trade Highest previously dated October 5, 2012 and and confirm it as Support, the pair will return next Resistance traded higher by 103.80 dikisaran.
Conversely, if the pair traded lower range below 102.80 resistance and confirming it as the pair would be potentially traded down to the range of Resistance Trendline previous Symmetrical Triangle is 102.00.
EURJPY has traded with Range 41 points at 42% of the Average Range 96 points and was trading 0.00% with High and Low +0.22% -0.17% of the close of trading yesterday.
Intraday Resistance 103.80 / Support Intraday 102.80 - 102.00

EURJPY has broken the resistance level at 103.18. I think this breaking will open a way for EURJPY to continue going up and this pair has an opportunity to reach the next resistance level at around 104.08. Yeah, the up trend still strong enough

http://i50.tinypic.com/anhiyq.gif

The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 101.60 and key resistance at 104.65. Based upon my chart analysis, I prefer to bbuying the pair above 102.60 with targets 103.10, 103.70 then 104.65 and stoploss with four hour candle closing below 101.60.

eur/jpy technical analysis by using : average directional movement index

adx : 32.2729
+di : 26.2235
-di : 14.4644
timeframe : 1 hour

time : 1000
date : 17.10.2012

Purchase of the lens at 103.44 the first 103.80
second objective 104.25
Sale of 103.01 the objective of the first level102.70 second objective 102.38
thank you

South correction is completed and the couple resumed growth in the North continue to hold a long position, I plan to make another purchase in the breakdown of 103.40, but it is likely the beginning of a deeper and southern correction, consider selling at strengthening below 102.90.

Couple with a very good start of the week rose EUR / JPY...i now see that they formed a very clear, a double top just below the peak, so it is possible to see that roll down from this level ....

Over the past two days, the course went well to the north, while the south was not normal correction, the pair went to the 103.40 resistance level around which a noticeable pause and consolidation, most likely from her and starts south correction, Stochastic signal to sell.

EUR/JPY
BUY
Enter :- 103.270
TP1 :- 103.648
TP2 :- 104.027
SL :- 102.516

Note this is just my attempt to predict the price could be right or wrong stop-loss order is very important must put always follow the trend