EURJPY got so much this week traders enjoy in this pair because it make some nice swings it dropped to 122.88 on friday and did fast recovery and test a high of 124.74 which is hinting more upside moves will be available on monday.
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EURJPY got so much this week traders enjoy in this pair because it make some nice swings it dropped to 122.88 on friday and did fast recovery and test a high of 124.74 which is hinting more upside moves will be available on monday.
EUR/JPY last week was most volatile.What will happen next week.What you expect ?
Last week H4 graph shown a good reversal sign and supported by oversold conditions. I think the price wanna make a retracement and reaching fibonacci 100 @126.94. And the strong upwards barrier located at fibonacci 76.4 @125.98.
According to EUR / JPY now see sloping channel down ... Friday was a very good breakthrough in the main trend ... but until the price has broken the channel ie above $ 1.2620 would be considered more that the price still moves in the channel rather than fly to the top ... so I think that next week should be pin motion last Friday ...@>-
the chart is showing that the pair is trading under level 111.00 , that's mean the down trend is standing and the pair might reach 110.00 , but if the pair succeeded in breaking 111.00 , it will head to 111.30 and then 111.70
:)))
analysis for EUR/JPY this day 18 February 2013, candlestick patter in timeframe weekly is bullish patter, in daily too, but is there correction in timeframe H1, lets check this picture for analys, maybe EUR/JPY this day correction @124.66, and then "maybe" bullish moves :)
Disclaimer mode : ON because it just analysis :)
http://i49.tinypic.com/qn1q29.jpg
Spoiler:
The position of the current price is above the 50 EMA on the hourly chart, momentum is bullish
The position of the current MACD cross the line above the area 0, the momentum is bullish
Trend today: bullish
Target today:126.47
If we look on H4 time frame, we can see that the current candle is being rejected by the resistance level at 125.09.If the rejection success, the current candle may forms a pin bar candle and EURJPY may reverse to the support level at 124.24. But if EURJPY can break this resistance level successfully, this pair will go up to the next resistance level at 126.03.
buy eur/jpy at the level 125.00 with targets at 126.50 and 127.50, but in case of breaking the level 124.50, then sell below this level with targets at 123.50 and 122.45
A slighty uptrend occured in H1 graph but the rejection from 125.43 would make the price decline and moving down to 124.46. At the opposite direction, if bid price breakthrough 125.43 then it would be going up to 126.40.