Eur/Jpy

eur/jpy technical analysis by using : average directional movement index

adx : 23.4369
+di : 10.7084
-di : 20.5239
timeframe : 1 hour

time : 2000
date : 02.11.2012

eurjpy pair just bounced from its support 114..
i think now its time for this pair to go up..it can be bought from here till 117..
thsi pair is not showing too much move..but for now its signals are suggesting for this much only

Despite recovering to 103.99 last week, EUR/JPY lost momentum well ahead of 104.58 resistance and the development suggests that consolidation from 104.58 is still in progress. Initial bias is mildly on the downside for 102.17 support this week. After all, we'll stay near term bullish as long as 100.14 support holds and expect rise from 94.11 to resume later. Above 104.58 should target 111.43 key resistance.

In weekly chart now price is at near resistance trend line. Second last week price is making a hammer and this week a doji so now it is a candlestick pattern that is given a sell signal. I hope price will not break 104.60 and will falling this week near in range 102.00

see the market decided forum fast best friends good forum thaanks

Elliott: flat correction down 102.63
Technical points
Key point 103.0100
Entry point 103.4800
Elliott 104.0000
Closing 103.2300
Projection 102.8700
Trendline 103.8700
Trendline 103.7400
Supports / Resistances
Res 2 104.2000
Ex-High 103.8700
Res 1 103.7200
Pivot 103.3900
Sup 1 102.9000
Ex-Low 103.0600
Sup 2 102.5700

EUR/JPY shown difficult to move up because get strong pressure after it's fell down strong at friday ago. The weekly pivot level (103.13) become a holding level for this pair. If this level can break down by price, price can down strong again today.

Spoiler:

http://i.imgur.com/DmNDv.png

On the H1 chart, the price is below 12 EMA (red) and 72 EMA (blue) indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Target: 102.44

Expected trading range for the day between 103.10 and 104.60
General tendency for the price: UP

Eur/jpy technical analysis for 05.11.2012 by using : Auto pivot indicator.

resistance 3:104.62
resistance 2:104.26
resistance 1:103.78

pivot point :103.41

support 1:102.93
support 2:102.57
support 3:102.09