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EUR/JPY's uptrend contained last week and reached as high as 121.61, just inches below mentioned target of medium term fibo level at 123.08. Initial bias remains on the upside this week and sustained break of 123.08 will pave the way to 130 psychological level. On the downside, break of 117.04 support is needed to signal short term topping. Otherwise, outlook will stay bullish even in case of retreat.
all jpy pair is having a good upmovement but now there is show movement. in cci indicator is showing the momentum is going to change. but we must wait to break the support level at 114.00 we can take a pending order at this level with stop loss 123.98
On a daily time frame, EURJPY is close to 100% monthly fibo, the MA lines are still on strong bullish. The pair is potentially corrected towards 7 peiods MA at 120.50, however if it break 100% fibo level at 123.35, then it is possible to rise towards 124.00
Spoiler:
The position of the current price is above the 50 EMA on the daily chart, momentum is bullish
The position of the current MACD is above the area 0, the momentum is bullish
Trend today: bullish
Target today: 127.60
If EUR/JPY continues its advance into higher levels,eur / jpy day down
what about tomorrow
buy eur/jpy at the level 121.31 with targets at 123.83 and 125.33, but in case of breaking the level 120.89, then sell at this level with targets at 119.54 and 118.67
Daily analysis for the pair of EUR yen , The pair are now standing at the support I think is possible rebound slightly, but in the case of breakage expect fall to 121.08 and rise out of my mind Any drop of will be just correct for the rise and God knows
long positions at 121.50 with 122.00 and 122.50 as next targets
the breakout of 121.00 will call for arebound towards 120.50
If EUR/JPY continues its advance into higher levels, thsi pair is not showing too much move..but for now its signals are suggesting for this much only
eur/jpy technical analysis by using : adx
adx : 52.1987
+di : 20.4292
-di : 11.7925
timeframe : 4 hour
time : 1200
date : 28.01.13