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long-term basis after weakening that occurs at night NFP yesterday, EURJPY currency back strongly bullish so discovered a new signal that will allow a new trend if the yellow line that I show in the picture succeeded in penetrating (131.20 to 126.93 for the higher and lower) based analysis using bollinger band indicator is the reference point that allows it to happen break high or low in the long term
may be in this year this pair may go to 145.00 or more.But japanese has no any good news that it will recover their problem within a short time.For that reason this pair always remain uptrend minimum next 3 months even this whole year.
Major resistance levels are 130.00/50 and 131.00; while immediate intermediary support is 127.90, followed by 125.00 and lower. The currency pair is expected to trade lower and hence selling rallies would be the trading strategy for now. On the other hand, a rally past the sloping resistance line shall see prices printing another high around 132.00 before reversing. Considering the risk/reward ratio, the best is to sell rallies for now.
My Trade: Shorting with SL @ 131.50: TP @ 128 and lower
Pair : EURJPY
Updated : Sun, May 05 20:12
price : 129.85
movement : 192.2 Pips
movement : 1.50%
Support : 126.88
Pivot : 129.34
Resistance : 131.81
:respect:
EURJPY,H1
Date 2013.05.06
Time 04:00
Open 130.13
High 130.17
Low 130.11
Close 130.14
Volume 56
SMA(5) 130.08
SMA(10) 129.97
SMA(20) 129.53
SMA(50) 128.68
SMA(100) 128.45
SAR 128.97
Indicator window 1
Stoch(5,3,3) 73.0000
Signal 67.9841
Indicator window 2
RSI(14) 71.0787
Indicator window 3
MACD(12,26,9) 0.451
Signal 0.459
Indicator window 4
%R(14) -9.9476
based on combination of indicators above,
trend : BULLISH
Eur/jpy analysis for 05.06.2013 by using pivot indicator.
r3: 133.28
r2: 131.80
r1: 130.82
pivot: 129.34
s1: 128.36
s2: 126.88
s3: 125.90
Both indicators Accumulated Oscilator (AO), Relative Vigor Index (RVI) and Gator Oscilators show above zero or positive it means after this pair touched near 130.03 so this pair still in uptrend mode, then RSI is still moving near sell border level 70 as strong preparation for strongly bearish as reversal movement after strong rally bullish happened
Eur/jpy technical analysis
date : 05.06.2013
time : 05:30 GMT
time frame : 15 min
indicator :
1) RSI (14)
value - 50.48
2) STOCH (13,3,3)
value- 0.0000
3) MACD (26,12,9)
value : -0.0145
4) ADX (14)
value- 22.12
overall treand - slightly bearish.
EURJPY at 130.05(close at 129.77)
My Pivot 129.05
My support--129.90->129.00->128.90->127.70->127.05->126.45
My resistance--130.18->130.66->131.12->132.85->133.00->133.50
Wish you luck with your trade! ;)
Pivot levels today:
R3: 133.46
R2: 131.90
R1: 130.96
PP: 129.40
S1: 128.45
S2: 126.88
S3: 125.95
Commnet: Price now is above the daily and weekly pivot levels, also it is above the 55 SMA, so more rising is expected.
Forecast: Price may rise to 126.88.
Spoiler: