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EURJPY pair still sideways between resistant and trendline support, so you should wait until one breaks. This may be due to the direction of EURUSD and USDJPY opposite, for it is better to wait until the direction of movement to be more precise.
http://i46.tinypic.com/2nscow8.gif
http://charts.mql5.com/1/152/eurjpy-...orex-group.png
we can see in the 1d chart
the pair trading down the 23.6
I see the pair will go to down way to 119.70
stochastic refers that the pair will go down
so our target sell from 125.00 and our target will 510pips
Good luck
If we look on H4 time frame, we can see that the current candle is being rejected by the resistance level at 125.09 now. Then, if EURJPY can be rejected by this resistance, this pair may falls to the support level at 124.24. But if EURJPY can rise and break this resistance level successfully, EURJPY may continue going up to the next resistance level at around 126.03.
Spoiler:
i think the Eur-ozone consists of Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, Slovakia, Estonia and Spain, Cyprus and Malta. The Euro was introduced in 2002. In standard Japanese, the yen is pronounced 'en' and literally means 'round object'. It is widely used throughout the world as a reserve currency after the United States dollar, the euro and the pound sterling.
EUR/JPY shown difficult to move up because get strong pressure after it's fell down strong at friday ago. The weekly pivot level (103.13) become a holding level for this pair. If this level can break down by price, price can down strong again today . Best of lack .
UR/JPY intraday: the upside prevails.
Pivot: 124.6
Our preference: Long @ 124.7 with targets @ 125.35 & 125.75 in extension.
Alternative scenario: Below 124.6 look for further downside with 124.1 & 123.75 as targets.
Comment: the pair remains on the upside and is challenging its resistance, the RSI os well directed.
Key levels
126.05
125.75
125.35
125.2 last
124.6
124.1
123.75
http://dl.dropbox.com/u/51561036/scr...315-152922.png
Eur/jpy technical analysis by using movingaverages.
date : 03.15.2013
time : 0915 GMT
time frame : 15 min
sma200 : 124.70 signal-buy.
sma100 : 124.93 signal-buy.
Eur/jpy analysis for 03.15.2013 by using pivot indicator.
r3: 126.64
r2: 125.93
r1: 125.46
pivot: 124.75
s1: 124.28
s2: 123.57
s3: 123.10
elliott flat correction up 125.89
it looks set for gains to 125.47 support at 124.52 and 124.28 abreak of 123.57 will damage this bullish structure
technical point
key point 125.31 - entry point 124.68 - elliott 124.05 - closing 124.98 - tyrend line 124.67
Piovt levels
R3: 126.61
R2: 125.93
R1: 125.44
PP: 124.74
S1: 124.25
S2: 123.55
S3: 123.07
Comment: The trend @ 4H is still upword.
Forecast: the price may rise to 126.60, but in case of breaking the trend, it will fall to 122.85.
Our preference: take long position @ 125.09, targets @ 126.17 and 126.71, stop loss @ 124.29.
Alternate scenario: by breaking the level 124.29, take short position below it, targets @ 123.55