Eur/Jpy

this pair is going to form inverted hammer in H4 we may see more down aftergood likeyes some trades are happy good busniess earn fast money good like forex

EUR/JPY
BUY above = 103.350 UPPER TARGET = 103.720
SELL below = 102.940 LOWER TARGET = 102.550

---------- Post added at 02:46 AM ---------- Previous post was at 02:26 AM ----------

EUR/JPY at five-month highs, 104.07, 104.00 Barriers go

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EURJPY 22 Oktober 2012
Elliott: correction zigzag 102.59
There is bearish potential for a fall to 103.01 while 103.40 - 103.54 resist. After this fall a recovery up to 103.54 or 103.67 is expected.
Technical points
Key point 103.0600
Entry point 103.3500
Elliott 104.1400
Closing 103.2700
Projection 102.9600
Trendline 103.8000
Trendline 103.4600
Supports / Resistances
Res 2 104.0600
Ex-High 103.8000
Res 1 103.6700
Pivot 103.4000
Sup 1 103.0100
Ex-Low 103.1400
Sup 2 102.7400

EURJPY is moving around the support level at 103.18 today. If EURJPY can break this support level, I expect EURJPY will fall to the next support level at around 102.19. But if fail to break, EURJPY may rebound here and go up to the resistance level at 104.08.

Spoiler:

http://i.imgur.com/u7gAO.gif

Eur/jpy technical analysis for 22.10.2012 by using : Auto pivot indicator.

resistance 3:104.40
resistance 2:104.11
resistance 1:103.71

pivot point :103.42

support 1:103.02
support 2:102.73
support 3:102.33

In the long-term trading, the price seems a correction under conditions of ongoing bullish trend. During this week, if the decline continues, the target to reduce approximately: 101.50 is likely to be achieved.

Consecutive bullish signals affected the price of the pair during the previous period led to the stability of the price level
Positive and clear that the level of 102.80 is a barrier of resistance, now a new support price.

EURJPY has managed to climb back up asia rice when the market is open, it indicates that the pressure is still very strong bullish for this pair.I think EURJPY will make corrections or reversal when the price has reached 104.36
vote buy

EURJPY is moving around the support level at 103.18 today. If EURJPY can break this support level, I expect EURJPY will fall to the next support level at around 102.19. But if fail to break, EURJPY may rebound here and go up to the resistance level at 104.08