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No change in EUR/JPY's outlook. Correction from 104.58 could extend lower but still, we'll stay near term bullish as long as 100.14 support holds and expect rise from 94.11 to resume later. Above 103.39 minor resistance will flip bias back to the upside. Break of 104.58 should target 111.43 key resistance.
The yen was lower against the euro, with EUR/JPY up 0.42% to 103.61.
Later Wednesday, the U.S. was to produce official data on manufacturing activity in Chicago, as well as a government report on crude oil inventories.
EUR/JPY
BUY
Enter :- 103.250
TP1 :- 103.618
TP2 :- 103.987
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
EURJPY resistance approaching middle medium term bearish channel in 103.40. It seems the decline has begun. However, if through this level will potentially large and reach the upper channel at 104.20.
this pair is going to form inverted hammer in H4 we may see more down after that candle formation good like rorex good
EUR/JPY Technical Analysis:woo:
The spot rate approaches the intermediate resistance of its medium-term bearish channel at 103.40. It seems that a decline was initiated. However, a break of these levels will free a large potential and reach the upper limit of its channel at 104.20.
Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
eur/jpy technical analysis by using : average directional movement index
adx : 23.9888
+di : 17.1638
-di : 17.9208
timeframe : 1 hour
time : 1900
date : 31.10.2012
Absolutely, I'm no doubt to say that EURJPY will be bullish today. Since it broke the 103.24 level yesterday, in my analysis, it will push the pair higher. The reasonable target is to break the yesterday's highest price at 103.93.
Expected trading range for the day between 103.30 and 105.10
General tendency for the price: UP.
The yen was fractionally lower against the euro, with EUR/JPY inching up 0.09% to 103.47.
Later in the day, the U.S. was to release the ADP report on nonfarm payrolls, as well as the weekly government report on initial jobless claims.
In addition, the Institute of Supply Management was to publish data on U.S. manufacturing activity.