Eur/Jpy

EURJPY on bulls but weak. Look, that probably price to re-test that supply at 116.01 . Yes, on here. Search for buy with small TP (to near that 116.01) . better idea, I see.

Quote:

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Originally Posted by Jobs

Hike couple continues to grow ... and the next support is 113.60 getting higher .. so now all hopes of growth of pair associated with a crazy Japanese currency falls ... until the price is in a wide range it is not clear where to put the stop .. but rather only if it is attached above 116 then followed by another wave of shopping ..*//

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Agree with you :) at this time is safe only buying this pair, nothing else .. maybe around level 117,50 try to short it for a while with small stops.

Today(7-1-13 ) pivot point are-

Resistance 3- 117.35
Resistance 2- 116.37
Resistance 1- 115.79

Pivot point- 114.81

Support 1- 114.23
Support 2- 113.25
Support 3- 112.67

Passively pair traded price in the Asian session to remain stable at around 114.60 without access to the summit level investigator at a price of 115.85 price remains sideways
We expect some of the volatility of trading today among the key support at 113.25 and the summit level at a price of 116.00
Support 113.25
Resistance 116.00

As USD/JPY goes down as well as EUR/USD .. so i think that we could see some serious profit taking, but in medium term im still bullish.

Spoiler:

http://img842.imageshack.us/img842/2569/ejjjjjjjjjj.png

On the Hourly chart, price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
50 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Take profitt: 116.38
SL: 113.24

Today(8-1-13 ) pivot point are-

Resistance 3- 117.19
Resistance 2- 116.37
Resistance 1- 115.75

Pivot point- 114.93

Support 1- 114.31
Support 2- 113.49
Support 3- 112.87

eur/jpy technical analysis by using : adx

adx : 16.5954
+di : 18.6897
-di : 11.2308
timeframe : m30

long positions at 114.60 with 115.00 and 115.40 as next atrgets


the breakout of 114.20 will call for arebound towards 113.80

http://img19.imageshack.us/img19/3813/ejjjjjjjj.png
Uploaded with ImageShack.us
On the hourly chart, the price is below the 12 EMA (red) and 72 EMA (blue) indicates the trend is still down
50 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Take profit: 112.86
SL: 115.76