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In the H1 time frame the price is moving with very less movement. it is also moving in a support and resistance. the resistance is 121.35 and the support is 120.60. we can trade in the breakout direct. the major chance it will break the support and move to the 119.90
we can see that EURJPY had been rejected by the resistance level at 121.71. So, I think this pair has a chance to fall and reach the support level at 120.27 or even lower to 119.48
over all the pair is down.
Pair : EURJPY
Updated : Fri, Mar 01 21:48
Price : 120.47
Movement : -35.6 Pips
Movement : -0.29%
Support : 119.75
Pivot : 121.05
Resistance : 122.35
Pair is in Buying trend and i think this pair can touch 122.40 level after this pair will test then 123 level and goes higher Overall this pair is making a move on up word direction.
Today's Speech is also very important for this pair.
My take on eurjpy is that it will selloff next week as it attemps to find support initially @118.50 area
Today market is close,eur/jpy closing price is 121.82,so i personally feel that when market open then we sell aggressively near level of 122.40,with a stoploss 123 and profit target is 120,now this pair resist this on the level of 121,122 area,so you have to take chance in selling,good luck
Fibonacci Pivots Points
122.35 R3
121.85 R2
121.55 R1
121.05 PP
120.55 S1
120.25 S2
119.75 S3
Main samjhta hoon kay eur/jpy nain apnee downward retracment complete kar lee hay aur ab ye phir say upward ko move karna shuro karay ga, next week main is kay target 126.50 say ooper move karny ka hay.Quote:
Originally Posted by faisal waheed
Eur/jpy analysis for 03.04.2013 by using : pivot custom time.
r3: 124.33
r2: 123.23
r1: 122.54
pivot : 121.44
s1: 120.75
s2: 119.65
s3: 118.96
http://charts.mql5.com/1/109/eurjpy-...nies-group.png
we can see in the m15 chart
the pair will go down to fibo 38.2
I see the pair will go to down way to 121.47
stochastic refers that the pair will go down
so our target sell from 121.84 and our target will 35pips
Good luck