Eur/Jpy

Eur/jpy technical analysis for 03.12.2012 by using : Auto pivot indicator.

resistance 3:108.99
resistance 2:108.34
resistance 1:107.73

pivot point :107.09

support 1:106.48
support 2:105.83
support 3:105.22

This EURJPY can more nice bearish again if truly the strong seller was can break that 23.6 fib (at 106.83). But, of course as long as the price then still move above that 23.6 fib 106.83 the wait and see action is better

Intraday bias in EUR/JPY remains on the upside for the moment. Current rally from 100.32 is part of the rise from 94.11 and should now target 100% projection of 94.11 to 104.58 from 100.32 at 110.79 next, which is close to 111.43 key resistance. On the downside, break of 105.27 support is needed to signal short term topping. Otherwise, we'll stay bullish in case of retreat.

In the bigger picture, we're favoring the case that whole down trend from 169.96 (2008 high) has completed at 94.11 already, on bullish convergence condition in weekly MACD. The sustained break above 55 weeks EMA affirmed this view. Break of 111.43 resistance will confirm this bullish case and bring further medium term rise to 123.31 (38.2% retracement of 169.96 to 94.11 at 123.08) and above. And, we'd favor this bullish scenario as long as 100.32 support holds.

EUR / JPY moved back to the north, breaking the support level of 107.00 was false and was not supported by the bears, the couple is in the northern trend, another purchase plan to do with the break resistance near 107.60. stop below 106.90.

Pair EUR / JPY successfully gain a foothold above 106.90 or even noticeable that the second peak was higher than the first so that the potential for growth is the couple is, the Stochastic Oscillator is just now beginning to fight back from its signal line .. so here I look at the growth of ...

Support: 106.53
Pivot: 107.26
Resistance: 107.99

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

EUR/JPY lost some upside momentum but further rise is still expected with 105.27 minor support intact. Current rally from 100.32 is part of the rise from 94.11 and should now target 100% projection of 94.11 to 104.58 from 100.32 at 110.79 next, which is close to 111.43 key resistance. On the downside, break of 105.27 support is needed to signal short term topping. Otherwise, we'll stay bullish in case of retreat.

In the bigger picture, we're favoring the case that whole down trend from 169.96 (2008 high) has completed at 94.11 already, on bullish convergence condition in weekly MACD. The sustained break above 55 weeks EMA affirmed this view. Break of 111.43 resistance will confirm this bullish case and bring further medium term rise to 123.31 (38.2% retracement of 169.96 to 94.11 at 123.08) and above. And, we'd favor this bullish scenario as long as 100.32 support holds.

While in any couple does not want to go north, the course is sandwiched between the two levels of resistance and support for 107.58-107.00 figure, turn over plan to sell the breakout of 107.00 to 105.30 from the figure, the alternative scenario, with the strengthening of the above 107.60 will add another purchase.

After yesterday's breakdown of the upper zone of the fractal (107.00 resistance), the pair went into the side corrective movement, attempts to break the mark of 107.50 resulted in the formation of the upper three fractals, so shopping is going to open up only at strengthening 107.50, south until you look.

Spoiler:

http://sadpanda.us/images/1276143-AMNI6CJ.png

On the H1 chart, price is above the 12 EMA and 72 EMA indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Take profit: 107.65/107.97