Printable View
double top pattern has been formed by a second touch EURJPY pair as a bearish reversal point but it has not been confirmed bearish since the pair have not managed to penetrate the low-level break below 118.60, meaning the pair had to penetrate this level advance to confirm bearish sharp.
Rise in the EUR/JPY to 118.75 after the release of German data Decline in GDP in Germany below expectations (0.8)% from 0.3% to 0.7% and the pair jumped in response to the level of 118.75 where as support during the Asian trading session
sell eur/jpy at the level 119.01 with targets at 117.77 and 117.03, but in case of breaking the level 119.56 then buy at this level with targets at 120.40 and 121.14
http://i50.tinypic.com/inhhrm.gif
In my 15 minute chart we see that there is possible double top formation which indicates the downside pressure but the downward movement is limited above the 23.6% level. For downside movement there is need to break the 23.6% level. Therefore at this level we remain neutral until we get a confirm signal for the upcoming big move.
According to the my M30 chart Eurjpy pair shows uptrend movement. Because there is a support leave at 118.40 area. therefore this pair will maintained bullish pattern. if break 118.40 area price will fall into 117.60 area.
eur/jpy technical analysis by using :adx
adx : 19.5338
+di : 19.8148
-di : 24.9523
timeframe : 1 hour
time : 1500
While the pair worked fine double top and then met with support for 117.68 began again to form the northern wave, a little late to buy and sell too early, I personally look forward to a strong approximation 118.90 + mark-figures from it will be in first place again to catch the sale.
this pair is giving the short position signals and we should be more careful about the short tradings. the pair move some up but then it move down so to make the bearish flag
It seems the pair started a new south trend, the course thoroughly managed to strengthen below the moving alligator who formed three lines signal - a signal to continue the trend of the southern and formed on the daily chart stochastics sell signal, while strengthening still selling below 117.65.
Thank you my friends on this analysis and recommendations to pair the euro and the Japanese yen and just read the strategy for the euro and the Japanese yen and I now I apply this strategy on a demo account .