Eur/Jpy

Eur/jpy analysis for 03.06.2013 by using pivot indicator.

r3: 122.75
r2: 122.31
r1: 122.02

pivot: 121.58

s1: 121.29
s2: 120.85
s3: 120.56

Eur / jpy still sandwiched between two strong lines - Resistance 122.00 figure and medium sloping trend line, they converge to form a triangle, this triangle has a bullish bias as is the support area on the top, most likely will break the figure is 122.00 and the main camp buy signal.

Now this trade at 121.77 today's high is 122.06 and low 121.50,now this have limited area for trading this pair set range 121 low side and 122.10 on up side i personally feel sell near 122 area and buy near 121 area until range is not broke,stoploss is 20 pips and take profit is 50 pips.good luck.

erujpy still retest for the trendline and still not penetrate resistant above as shown below. so my estimate would still be sideways until one either trendline break or resistant. for now waiting for the confirmation of a better and more secure.

http://i47.tinypic.com/veokfo.gif

http://charts.mql5.com/1/118/eurjpy-...nies-group.png


we can see in the 4h chart

the pair will go up to fibo 50.0

I see the pair will go to up way to 122.79

stochastic refers that the pair will go up

so our target buy from 122.09 and our target will 77pips

Good luck
:respect::woo::happy::peace:

Pair : EURJPY
Updated : Thu, Mar 07 10:48
Price : 121.96
Movement : 0.7 Pips
Movement : 0.01%

Support : 121.15
Pivot : 121.91
Resistance : 122.67

From 01:58 07-Mar-2013 GMT
Till 05:58 07-Mar-2013 GMT
Buy
Buy at 121.98
Take profit* at 122.38
Stop loss at 121.68

in the h1 time frame the price is moving in the up trend channel but it is having a strong resistance at the 122.20 it is not able to break and price is try to rejected. at stoch is also giving us short signal. we can short this pair and this will try to again move the the support at 121.15

Forex can make you rich quickly. Bullish price action patterns on the daily chart. First a pin bar then a bullish engulfing bar Price is crossing a small but still important pivot zone, the 115.00 area. If EUR/JPY continues its advance into higher levels, it may encounter resistance at 117.80 (May 31 high), 118.50 (April 26 low) and 119.20 (May 3 low). Thsi pair is not showing too much move..but for now its signals are suggesting for this much only. Apply safe strategies.........

EUR / JPY 122.20 Resistance Keep Pressing on

EUR / JPY pressing constantly against significant resistance at 122.20, tested several times - March 1 and 5 hours ago - with the 20 EMA in the 4-hour chart acts as a reliable vehicle to limit the negative side since March 5.

"The weakness in EUR is likely to sustain the positive side is limited" said Valeria Bednarik, chief analyst at FXstreet.com, adding that "the hourly chart shows SMA 100 and 200 are converging around 121.50 offer short-term support if the positive side up."

On a larger time frame, Valeria is a neutral stance, "with 121.10 and 122.60 of extreme importance that must be penetrated to clarify the picture" he said.

In the scenario that a clear break above the resistance seen, "it will lead to a more robust recovery despite higher see more resistance at 122.55 and 122.90, previous low

Support: 121.99, 121.87, 121.78
Resistance: 122.40, 122.29, 122.19