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Pair trades fell this morning, touching the support level around 102.20 almost to come back away from the high level of support
Price stability within the uptrend channel we expect strong positive price rise to 103.70 Msty and the breach of 104.50 in the near down to 131.00 during the middle All Time.
EUR/JPY
BUY
Enter :- 102.960
TP1 :- 103.405
TP2 :- 103.852
SL :- 101.072
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
couple ask only false breakdown support level 102.60 and very sharply again back above it (the breakdown was not supported by the bears), MASD showed a buy signal, it seems the course will turn to 104.30.
If we look at the daily chart, we'll see that there was a retreat from the red (medium) moving an alligator on the hourly chart is a change of trend in the northern + stochastics buy signal, waiting for growth.
http://i48.tinypic.com/331zkld.gif
The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 100.75 and key resistance at 103.70. Based upon my chart analysis, I prefer to buying the pair above 102.60 with targets 103.10, 103.70 then 104.65 and stoploss with four hour candle closing below 102.10.
Support 102.60 102.10 101.80 101.60 101.40
Resistance 103.10 103.70 104.25 104.65 105.25
eur/jpy technical analysis by using : average directional movement index
adx : 24.4262
+di : 29.9319
-di : 10.7439
timeframe : 1 hour
time : 1800
date : 30.10.2012
Best performing shown by EUR/JPY because of movement yesterday that after fell down until touch weekly support 1 level (102.29), price can back up to first position. And now, price shown try to hold position in order to not move down.
Eur/jpy technical analysis for 31.10.2012 by using : Auto pivot indicator.
resistance 3:104.92
resistance 2:104.17
resistance 1:103.68
pivot point :102.93
support 1:102.43
support 2:101.68
support 3:101.19
http://i48.tinypic.com/e84l0z.gif
Stochastic is currently in positive and there is a chances to move for upside. Intraday trading range 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 105.25. Based upon my chart analysis, I prefer to buying the pair above 102.60 with target 103.10, 103.70 then 104.65 and stoploss with four hour candle closing below 102.10.