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The pair traded price on Friday positively and reached the price to the level of 122.90 to close to the level of 38.2% Fibonacci and now the pair is in a corrective wave towards the 120.64 level
A pair back in the middle period to test the resistance level at 122.90
Support 119.84
Resistance 125.24
it may encounter resistance at 117.80 (May 31 high), 118.50 (April 26 low) and 119.20 (May 3 low).eurjpy pair just bounced from its support 114..
i think now its time for this pair to go up.
A couple of bulls again caught in the 23.6% Fibo from her after a brief consolidation similar happening again resume the main northern trend, if it is able to break a couple of short-term resistance of 122.20 will open another purchase until the first goal is maximum 123.00, which hopefully will not be as powerful obstacle for bulls.
Couple almost worked morning sell signal (after the breakdown of the moving 122.20_ alligator and support), the pair completed its corrective phase and start again like to renew the main northern trend buy signal was break above 122.20 and strengthen moving alligator, another purchase will be opening in breakout 123.00 figure.
http://www2.0zz0.com/2013/01/28/15/264779169.gif
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
http://www5.0zz0.com/2013/01/28/21/587478839.gif
we can see in the 1h chart
the pair can not close up the broken down trend line
I see the pair will go to down way to 121.12
stochastic refer that the pair will go down
so our target sell from 122.12 and our target will 100pips
Good luck
In h4 time frame the price acting at the pivot point at 122.25 and provide a resistance. the next resistance is 122.84 is also there. so for long order we must wait to break the higher resistance. short order can place if support level 121.62 is break. because the signal can see from stoch and cci indicator. stop loss is 122.25 and take profit next support level at 120.70
EURJPY on daily time frame, the pair seems on strong bullish, but like yesterday, today the pair is still move on a correction to 7periods of MA. So it is likely go down towards 120.92 level.
Analysis result EUR JPY 29-01-2013
SIDEWAYS, UP TREND (WEAK)
Signal 20 pips : BUY @ 122.45 Set S/L @ 122.15 Set TP @ 122.65
Signal Breakout : BUY @ 122.65 Set S/L @ 122.35 Set TP @ 122.85
Reversal Prediction HIGH : 123.30