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the EUR/JPY and stumbled n h wake of new data the manufacturing and service sector
still anticipation between market dealers of what could be construed as PMI reading for the Euro zone in February and in the wake of the PMI reading for both France and Germany
EURJPY has been rejected by the support level at 122.54 for several time. So, I can make a conclusion that 122.54 is difficult to break. I think EURJPY will rebound and going up to the resistance level at 123.33 or even 124.24.
This scenario will fail if EURJPY can break 122.54 and can also break the yesterday's low successfully.
EURJPY has been rejected by the support level at 122.54 for several time. So, I can make a conclusion that 122.54 is difficult to break. I think EURJPY will rebound and going up to the resistance level at 123.33 or even 124.24.This scenario will fail if EURJPY can break 122.54 and can also break the yesterday's low successfully.Spoiler:
this pair is moving in the down channel the resistance of this is 125.60 and the support at 123.20 is now try to break. but now it is making doji pattern so may be price again move to up side. if the price is close above the 125.80 we can long this pair with the target 125.60
A slighty bullish is still continuing for the corrections which is touched fibonacci 50%. We can entry buying plan after it breakup 123.47 and use 124.12 as the nearest target. At other plan we can entry sell if price change directions and breakdown 122.26.
sell eur/jpy at the level 123.40 with targets at 121.85 and 120.76, but in case of breaking the level 124.11, then buy above this level with targets at 124.92 and 125.85
http://www14.0zz0.com/2013/02/22/13/508708513.gif
we can see in the 1h chart
the pair will go up to fibo 38.2
I see the pair will go to up way to 124.02
stochastic refers that the pair will go up
so our target buy from 123.07 and our target will 90pips
Good luck
Hi all. After the curtain of dark clouds appeared yesterday bearish engulfing excellent, so that at least a significant correction expected Verney is already underway, the time frame is not detstky, especially that high have not updated for three weeks, who like what level, but I was 38 and 50 on Fibo.IMHO. Besides, the "European kingdom" is not all right ....