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As you see in my following attached chart, the pair traded between a high of 131.86 and a low of 130.50, closed at 131.61. Today the pair trades below the resistance line of 132.70.
Downside Scenario: EURJPY could decline to the levels of 130.10 then 129.20, if the resistance line of 132.70 holds.
Upside Scenario: Upside penetration of the resistance line of 132.70 could send the pair to the levels of 133.60 then 134.55.
http://2.bp.blogspot.com/-pjkV_nSkeN...600/eurjpy.jpg
EUR/JPY intraday: BULLISH trend guaranteed by a climbing trend line. the RSI has just ended up on a support @ 30% .
Pivot@ 130.6
My choice: Open BUY positions on top of 130.6 with targets at 132 and 132.5 in extension.
Alternate choice conditions: Under 130.6 start looking for further down-side with 129.85 and 129.55 as targets.
http://dl.dropbox.com/u/51561036/scr...719-170032.jpg
EUR/JPY pair price already touched daily pivot point (131.404). Now the price is up trend. I think the price may touch Fibo 161.8 level.
http://i1311.photobucket.com/albums/...ps53a67e19.jpg
eur/jpy market analysis by using : average directional movement index wilder(14) & average directional movement index(14) on 19.07.2013
adx wilder(14) level
style : 20.15
+di : 17.56
-di : 18.76
adx(14) levels
adx : 20.52
+di : 10.63
-di : 16.88
time : 1300
timeframe : 1 hour
today i like to sell this pair @ 131.77
my stop loss of the day @ 132.13
half take profit for today @ 131.40
and further half take profit @ 131.15
pair above 0.8600 support
is calmer around this price support
Sterling has had good week against the Euro
After the last couple of fairly confidently overcame the resistance level 131.12 and closed the trading day above it today started with a small correction, which is quite possibly a couple of returns again to this level. If so, I will be there to look closely to the discovery shopping. Another position plan to add a bit of local resistance above 132.03. Feet below the level of the last local support 130.03. As for goals, I believe that the price will be able to update the current maximum of 133.73, or at least up to the level of 132.57.
Hi All :),
My preferance for Eur/Jpy is to buy from 131.73 and to stop loss at 130.73,
first take profit is at 132.13 and second at 132.73.
Good luck in trading ;)
:yahoo::))):))):yahoo:
It's time to open the package for EUR / JPY, couple finally came out of the converging triangle breakout is held the upper boundary of the shape-131.30, sliding alligator perfectly fulfill the role of trend line support and 3 show the signal lines signal the continuation of the northern growth, waiting for 131.00 a piece.
time frame- H1
the price is having the good support at the pivot point 131.33 this is not break the support and moving up side. it is making a hammer candlestick pattern at the support so up movement is expected. we can long with the take profit at 132.00 and stop loss at the 131.20
good luck.