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The single currency pair has risen past resistance above 111.00, printing fresh highs today morning. As depicted here, 111.00 was embarked by past resistance and also the Fibonacci target of the rally from 94.00 to 104.00 levels. Therefore, it is recommended to book maximum (80%) profits at current levels (111.60). Support on Daily Charts is quite far at 106.00, followed by 105.20. A meaningful pullback is possible towards 109.00 level before the next rally.
EUR/JPY Daily Outlook
Daily Pivots: (S1) 110.65; (P) 111.06; (R1) 111.79;
EUR/JPY's rally resumed after brief consolidations and rose to as high as 111.74 so far, meeting mentioned 111.43 resistance. Intraday bias remains on the upside and current rally should now target 161.8% projection of 94.11 to 104.58 from 100.32 at 117.26. On the downside, below 110.36 minor support will turn bias neutral and bring consolidations. But downside of retreat should be contained above 107.95 resistance turned support and bring another rally.
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. Sustained trading above 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.
EUR/JPY
The yen touched 111.78 per euro, the weakest since Aug. 30, 2011, before trading at 111.69 as of 6:30 a.m. in London, 0.3 percent below yesterday’s close. The yen fell to its lowest level against the euro since August last year on prospects the Bank of Japan (8301) will expand stimulus at a two-day policy meeting that ends tomorrow, its first since the nation’s general election.
Eur-jpy
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
EUR/JPY Mid-Day Outlook
Daily Pivots: (S1) 110.65; (P) 111.06; (R1) 111.79;
EUR/JPY soars to as high as 112.36 so far today and takes out mentioned 111.43 key resistance. Such development has larger bullish implication. Intraday bias remains on the upside and current rally should now target 161.8% projection of 94.11 to 104.58 from 100.32 at 117.26. On the downside, below 110.36 minor support will turn bias neutral and bring consolidations. But downside of retreat should be contained above 107.95 resistance turned support and bring another rally.
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. Sustained trading above 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.
EUR/JPY Technical Analysis
The EURJPY is enjoying a 16-month high with the current medium-to-long-term bullish channel. Staggered as the bullish price activity is, the candlesticks are projected to hike towards the 112.24 price target in the upcoming currency exchanges...
Stock charts gained popularity in the late 19th Century from the writings of Charles H. Dow in the Wall Street Journal. His comments, later known as "Dow Theory", alleged that markets move in all kinds of measurable trends and that these trends could be deciphered and predicted in the price movement seen on all charts.
FUNDAMENTAL ANALYSIS seeks to determine future stock price by understanding and measuring the objective "value" of an equity. The study of stock charts, known as TECHNICAL ANALYSIS, believes that the past action of the market itself will determine the future course of prices.
well at this time today eur and jpy is 112.41 it is going on constantly upward trend .
because previous weeks it was 107 so now its going on further up and it would be go up at 113 and more above i am sure because i make fundamental analyzes ok
EUR/JPY Technical Analysis
Despite dropping to a low of 109.91 in the trades yesterday, EURJPY price action is beginning to hike back up within the medium-term bullish channel. The candlesticks are still feeling bearish pressure from the 110.77 resistance, but could likely break this psychological handle in the ensuing currency exchanges...
On the hourly chart, price is above the 12 EMA (white) and 72 EMA (blue) indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Take profit: 113.05
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