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Looks like a couple again renews its main northern trend, pair completely blocked GEO and around 109.90 support again found a buyer, opened a purchase, think back to the bulls should be a mark 111.00, sales will be considered only when the building below 110.00 figure.
While talking about the northern growth too early, the pair continues to form the southern wave but has stopped moving in the blue alligator was about to happen if the breakdown of the line (and the breakdown of zones of lower fractals) - you should sell, I will buy you consider the above 110.50 resistance.
EURJPY had gap up. However, overbought conditions in general and strong resistance at 111.44/111.60 suggest short-term phase of weakness ahead. EURJPY has also moved above its long-term downtrend, observe testing major resistance at 111.60.
Just finished a couple of correction (after opening with gepom) and near the lower boundary of the rising channel pair found a buyer, after the consolidation of steam begins to rise slowly, opened another purchase, clearly seen as the price of any item does not break on this sloping line to become week high 111.10.
Part of the ADX indicator, the Directional Movement Index (DMI) consists of two lines, the DMI plus line (DMI+) and the DMI minus line (DMI-), which generate buy and sell signals.
The EUR/JPY came to the level of March 2012 and is trading at 111.17 9, a level that it had months ago due to the expected victory of the Liberal Democratic Party of Shinzo Abe (PLD). Abe has called for the central bank to double its inflation goal to 2% and undertake unlimited easing to revive economic growth. The EUR/JPY pair left a gap of over 100 pips; it is likely to be covered in the course of this week. Thus, we have traced the likely movements according to the table pivots.
108.61 and 105.03 are weekly and monthly pivot points for this week for EUR/JPY.
---------- Post added at 06:43 AM ---------- Previous post was at 06:32 AM ----------
The single currency pair has risen through the region of 110.80 today. Currently it seems to be retracing and providing another short term opportunity to go long. The only resistance is at 111.00 level, while support is far from it at 106.00, followed by 105.00. It is recommended to stay long form positions taken earlier. Moreover, buying on intraday dips is good. A pullback should be expected after the resistance at 111.00 is cleared. Looking higher from here on till 111.00 clears the way.
Support: 109.26
Pivot: 110.49
Resistance: 111.72
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 buy
Technical Analysis for EURJPY 100% Buy
This pair also on more bearish (although with still weak move) near / bellow that so strong supply zone 111.17. Then - for called more nice bearish = truly, the seller on this pair must break down (first) to that 23.6 fibo 109.94. So, if that 23.6 fibo 109.94 can be break by strong bearish candle
EUR/JPY Daily Outlook
Daily Pivots: (S1) 109.83; (P) 110.50; (R1) 111.08;
EUR/JPY faced some resistance ahead of 111.43 ad retreated mildly. With 4 hours MACD crossed below signal line, intraday bias is turned neutral for some consolidations. But downside of retreat should be contained by 105.97/107.95 support zone and bring another rally. Break of 111.43 will have larger bullish implications and should 161.8% projection of 94.11 to 104.58 from 100.32 at 117.26.
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 104.58 resistance turned support holds.
Still waiting for the northern growth, the time schedule put her in a pair of sloping medium level of support in this area and also in the horizontal level of 110.45 support from them and I look forward resume northern trend, I plan to buy another breakout 111 figure.