Printable View
Elliott: flat correction up 102.97
Current rise seems to be over near 102.30 or 102.79 for a retracement towards 101.81 - 101.52 area.
Warning: Imminent end of bullish move
Technical points
Key point 102.7800
Entry point 101.8200
Elliott 100.3300
Closing 102.2000
Projection 103.4200
Trendline 100.8400
Trendline 101.3400
Supports / Resistances
Res 2 103.3800
Ex-High 102.4000
Res 1 102.7900
Pivot 101.8100
Sup 1 101.2200
Ex-Low 100.8400
Sup 2 100.2500
http://img716.imageshack.us/img716/6176/imageha.gif
The pair EUR / JPY rose strongly trades yesterday to make the level of base moving average wave height and closed above the level of 102.00
The day started trading, built at the level of 102.00 to set off again strongly up now at the level of 103.50
It is strongly expected to arrive soon to levels around 104.50.
Indeed a very strong growth demonstrated today EUR / JPY, but on the daily chart clearly shows that the pair came close to the level of long-inclined, I'm selling, I wait for a release from the south (on a smaller graph is a noticeable pause and consolidation).
It is better to wait for the correction to the south and from its end is already catching the purchase, but catching turns and go up against such a strong trend, very dangerous, I think the goals of this week could easily be 104.40 (monthly maximum), the more that the pair broke through the sliding alligator and a number of other levels with virtually no effort.
I admit this pair is very volatile and the average daily range is more than 100 points and today the strong bullish created 171 points. Over bought has been occur but the downwards movement only count as corrections here. The correction could be till fibo 38.2 (103.04).
eur/jpy technical analysis by using : average directional movement index
adx : 71.0899
+di : 27.3638
-di : 1.9908
timeframe : 1 hour
time : 1800
date : 15-11-2012
eur/jpy technical analysis for 16.11.2012 by using : Auto pivot indicator.
resistance 3:106.50
resistance 2:105.25
resistance 1:104.50
pivot point :103.25
support 1:102.49
support 2:101.24
support 3:100.49
Elliott: irregular flat correction up 104.60
Uptrend is still intact in a triangle configuration. It should continue to rally to 105.22 or 104.49 if support around 103.25 hold. After which a pullback to 103.25 - 102.88 zone is possible.
Warning: Imminent end of bullish move
Technical points
Key point 104.4900
Entry point 103.4000
Elliott 100.3300
Closing 103.7500
Projection 105.3200
Trendline 101.9700
Trendline 103.1800
Supports / Resistances
Res 2 105.2300
Ex-High 103.9900
Res 1 104.4900
Pivot 103.2500
Sup 1 102.5100
Ex-Low 102.0100
Sup 2 101.2700
Expected trading range for the day between 102.90 and 104.50
General tendency for the price: UP
As I expected, after a brief breakdown couple went to a retreat from the sloping level (daily chart) resistance seems started a new (at least correction) Southern Wave, now bears the main task will be to break 103.00 figure, then opens 102.35.