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I am sure that all currency pairs are the opponents of the yen, will have a similar arrangement of candles, as well as with the EURJPY rebounded back the longterm uptrend, but for a retrace signal I still recommend you install a sell stop at any lower that in the form of on the daily timeframe
My analysist for today, 22 april 2013 using open market price strategy
buy stop 130.72 tp 130.92 sl 130.12
sell stop 130.32 tp 130.12 sl 130.92
happy enjoy trading...
I would argue to this day eur / jpy will decline so my analysis for today is eur / jpy will decline even though it will not be much, sorry is my opinion so if there are not in accordance with my sorry it's analysis
Eur/jpy analysis for 04.22.2013 by using pivot indicator.
r3: 132.90
r2: 131.57
r1: 130.72
pivot: 129.39
s1: 128.54
s2: 127.21
s3: 126.36
From 01:56 22-Apr-2013 GMT
Till 05:56 22-Apr-2013 GMT
Sell
Sell at 130.59
Take profit* at 130.22
Stop loss at 130.92
Stochastic indicator is green already be above 80, and we can see that the trend is still up. We run out of taking buy limit above 129.49 pivot with 20 pips stop loss and targets in Resistant 1 and can also take profit in Resistant 2.
To view Resistant, pivot and picture chat Support could see Eur / Jpy this.
http://charts.mql5.com/1/383/eurjpy-...orex-group.png
today i place a pending buying order @ 130.07
my stop loss of the day @ 129.87
half take profit @ 130.45
and half @ 130.67
Fibonacci Pivot Point Today
r3=131.72
r2=130.77
r1=130.18
pp=129.23
s1=128.28
s2=127.69
s3=126.74
Pivot levels today:
R3: 133.76
R2: 132.13
R1: 131.30
PP: 129.68
S1: 128.84
S2: 127.21
S3: 126.38
Comment: Price now is above the daily and weekly pivot levels, also it is above the 55 SMA, and also there is an upowrd trend @ 1H time frame, so more rising is predicted.
Forecast: price may rise to 132.83, but if it can break 128.64 level, this will open the way to more fall to 125.88.
NEW SIGNAL
18 minutes ago
From 07:28 22-Apr-2013 GMT
Till 11:28 22-Apr-2013 GMT
Buy
Buy at 130.24
Take profit* at 130.68
Stop loss at 129.98
Spoiler: