Consolidation from 104.58 is still in progress and another fall might be seen. But after all, near term outlook will stay bullish as long as 100.14 support holds and we'd expect another rally ahead. Above 104.58 should target 111.43 key resistance.
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Consolidation from 104.58 is still in progress and another fall might be seen. But after all, near term outlook will stay bullish as long as 100.14 support holds and we'd expect another rally ahead. Above 104.58 should target 111.43 key resistance.
The Euro was lower against the Japanese Yen on Friday.
EUR/JPY was trading at 103.78, down 0.08% at time of writing.
The pair was likely to find support at 102.99, Wednesday’s low, and resistance at 104.59, Monday’s high.
Sold $EURJPY 104.2 SL 106.2
Eur/jpy technical analysis for 26.10.2012 by using Auto pivot indicator.
resistance 3:105.38
resistance 2:104.91
resistance 1:104.39
pivot point :103.92
support 1:103.40
support 2:102.93
support 3:102.41
EUR/JPY stabil in level around daily pivot (103.90). Price seen sideways before american market closed yesterday. Price will move in limited range in this day because there is sideways trend for medium and long term that occur.
Prices are testing resistance at 104.50, the 50% Fibonacci expansion, with a break above that exposing the 105.54-64 area marked by a horizontal pivot level and the 61.8% level. Support lines up at 103.36, the 38.2% Fib. A reversal back below that targets 102.79 and a rising trend line set from late July (101.80).
The trading range for today is among key support at 102.60 and key resistance now at 106.30.
The general trend over short term basis is to the upside targeting 109.15 as far as areas of 98.75 remain intact with weekly closing
The trend on still consolidation. Now, we can see that price still move slow on near that pivot line (at near price 103.75). and wait and see action is a better idea with this candle formation (because - no nice candle that look nice to be play till now).
Technically, look how prices held up, as the two groups of GMMA EMA, EMA-Short Term (red line) and the Long-Term-EMA (blue line) that move along with the trend of moving up. But it will still be refuted by showing the MACD signal that prices tend to be flat above zero (0) and Stochastics who actually gives a signal back down to have a prospect down to the area near 20. If the price of the correction, the range of support that will be recorded at 103.35 (38.2% Fibonacci retracement), 102.26 (23.6% Fibonacci retracement) and 100.51 (Fibonacci Retracement 0%). But if the opposite happens, then the resistance will be recorded in the range 104.22 (50% Fibonacci retracement), 105.10 (61.8% Fibonacci retracement) and 107.93 (100% Fibonacci retracement).
What to do with EUR/USD? – Commerzbank, UBS and Rabobank
The bloc currency is trading almost unchanged in the region of 1.2925/30 on Friday, depressed by softer-than-expected measures of confidence in Italy and France, and a fresh record high of the Spanish unemployment.
Karen Jones, Head of FICC Technical Analysis at Commerzbank, argues that the cross has resumed its downside towards the boundaries of 1.2900 and 1.2836 (MA200d), suggesting that a breach of it "would imply that the market had topped and signal losses to the 1.2738 then 1.2605, the 38.2% and 50% retracements". She adds that rallies would find the first hurdle at 1.3025/84, followed by 1.3140/80