Eur/Jpy

Eur/jpy technical analysis for 21.11.2012 by using : Auto pivot indicator.

resistance 3:106.23
resistance 2:105.51
resistance 1:105.10

pivot point :104.38

support 1:103.97
support 2:103.25
support 3:102.84

Support: 103.26
Pivot: 104.37
Resistance: 105.47

trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold

Technical Analysis for EURJPY 80% Buy

Trend on still bulls and look good for Buy. This strong bulls was triggered by the price on several time ago that can break up from that resistance 104.33. Search for Buy with use max SL bellow 104.33

Scenario for today
Elliott: elongated flat correction up 105.32
Uptrend is still intact in a triangle configuration. It should continue to rally to 104.81 or 105.08 if support around 104.38 hold. After which a pullback to 104.38 - 104.18 zone is possible.
Technical points
Key point 105.1500
Entry point 104.6600
Elliott 100.3300
Closing 104.6900
Projection 105.3200
Trendline 104.2500
Trendline 104.3800
Supports / Resistances
Res 2 105.4700
Ex-High 104.7700
Res 1 105.0800
Pivot 104.3800
Sup 1 103.9800
Ex-Low 103.6700
Sup 2 103.2800

The Japanese currency continues to trend to the south, a pair of very good growing, after the breakdown was a sharp test the support level is almost on the nozzle, and the couple immediately flew to the top ... so now that there is no impediment to growth, so that the forward end of the week to see price about 108 ...

http://img96.imageshack.us/img96/7108/imagezy.gif

broke EUR / JPY today's levels of 104.60 to reach the support of the stochastic to levels of 105.50 and is now at the bottom of

Stochastic gives negative signals which could mean a temporary correction and re-test levels of 104.60

Spoiler:

http://sadpanda.us/images/1259724-IPH7HJX.png

In M30 chart price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
* 21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Target: 105.72

short positions at 105.45 with 105 and 104.60 as next targets

the breakout of 105.6 will call for arebound towards 106.10

EURJPY has reached strong resistance area indicated by declining trendline 104.59. We must observe the resistance given by the highest of the channel increased. EURJPY is engaged in a long-term downtrend i think.

Uptrend is still intact in a triangle configuration. It should continue to rally to 105.65 or 105.87.
Then the market will go down to the range of 104.70 to 104.38.

Supports / resistances
S1: 104.70 w
S2: 104.26 m
S3: 103.61 s

R3: 107.08 s
R2: 106.00 m
R1: 105.65 w