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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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Euro’s sharp retreat from 102.80 (last week’s high) adds credence to our view that top is formed there and as the rebound from 99.65 has ended at 102.80, consolidation with downside bias remains for further weakness towards psychological support at 100.00, however, break of minor support at 99.80 (last week’s low) is needed to signal early decline from 103.85 has resumed for deeper correction of early rise to 99.63-65, then towards 99.20-30.
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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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Yesterday, the pair offered a fresh positive close above the stable support at 125.50, thus increasing the chances of providing it with a bullish move in the near and medium term. Therefore, we will wait for the price to accelerate towards 127.20, with a break of 128.25.
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Analysing currency = EUR/JPY
our buy plan for today = 126.54
our sell plan for today = 125.85
our key price for today
126.31 - 126.46 - 126.54
Profit in Forex Trading Market depends on the trading plan.
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No clear signal now to the direction of the pair to pressure SMA 55 from the top, stochastic gives a positive signal for the rise
Breaking levels 101.03 and closure underneath you will pay the price for the drop to the 100.37 levels either shutdown the highest levels of 100.82 will pay the price for the rise to levels 102.50
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eur/jpy Resistance & Support
Resistance level
1 Resistance level 128.57
2 Resistance level 128.61
3 Resistance level 128.78
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Support level
1 Support level 128.41
2 Support level 128.38
3 Support level 128.25
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Technical analysis for this pairs
eur/jpy analysis for 30.12.2018
( EUR/JPY ) price sell (minimum) is 128.58
or buy (maximum) 128.66
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102.05-102.17 area will be the next obstacle for the price to appreciate because the area is an indication of overbought area i think for this pair
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Same movement seen in 3 indicators for EURJPY movement today; GMMA with his two EMA groups showed that prices in the near future will likely signal a decline, although the significance level is still not very strong; MACD it shows the same thing with GMMA, but with a stronger level of significance, with the indicator area figures moving toward zero (0); Stochastics similar to the MACD is also showing strong indications that the number of indicators to try to penetrate into the area 20. If confirmation of the decline occurred during the day, then the range of support will be recorded in the areas of 100.29 (38.2% Fibonacci retracement), 99.68 (23.6% Fibonacci retracement) and 98.68 (0% Fibonacci retracement). However, if the opposite happens then it will be recorded in the resistance range of areas 100.79 (50% Fibonacci retracement) and 101.28 (61.8% Fibonacci retracement).
