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pair slowly testing the strength to break below the 118.80 level as if it is a very strong pair bearishnya the pair will successfully penetrate this point as further bearish confirmation level but if it is a very strong level then the pair turned bullish again
I think the conference bank of japan today will change the power of the yen against the euro. and it will reverse the direction to be bearish for the yen japan. if the price breaks suport 118.69, is likely to continue to 118.10 and possibly towards 117.32
Daily for a couple of euro-yen pair today rebounded from strong support point at 118.70 expect the pair now that continue to go up to 119.70 and rebound in the case of possible riddled climb to 120.30 and falling
short positions at 119.40 with 119.00 and 118.60 asd next targets
the breakout of 119.80 will call fro arebound towards 120.25
Trend Index
Slightly Bullish
OB/OS Index
Overbought
Pivot Points S3 S2 S1 Pivot R1 R2 R3
Classic 117.32 118.10 118.70 119.48 120.08 120.86 121.46
Camarilla 118.92 119.05 119.17 119.48 119.43 119.55 119.68
Fibonacci 118.10 118.62 118.95 119.48 120.01 120.33 120.86
http://i48.tinypic.com/1il8j4.gif
Although the pair is drops and is trading below the Linear Regression Indicator but the pair is still trading in the ascending channel. As long as the pair is trading above the lower line of channel at 117.35 we maintain our bullish scenario. According to my chart analysis, I prefer to buying the pair above 119.25 with targets 120.80, 121.50 then 122.15 and stoploss with four hour candle closing below 118.00.
sell eur/jpy at the level 118.71 with targets at 116.96 and 116.45, but in case of breaking the level 119.05, then buy at this level with targets at 120.05 and 120.68
Im very bullish at this pair. My target is 120.50. My reasons are very simple, EUR/USD will go higher as well USD/JPY will go higher. Good strategy will be buying dips in area 115 - 117.
Steam and today managed to make up the next week, almost without effort managed to break through resistance at 102,25 which opened the way to 103,70 , while the need to wait for the correction on the purchase.
If you carefully analyze the 4-hour chart is there much closer to the lower boundary of the medium-term rising channel from it already was a small northern retreat which I expect will grow into a new wave of northern exit to the 120.80 area (the upper limit of the channel), the south is not considered , waiting for your entry point to buy.