Eur/Jpy

For i would rather buy eur/jpy on dips due to the fact that BOJ is doing monetary easing which will devalue the yen more. So i will buy eur/jpy at support levels for the mean time until BOJ monetary policy meeting.

elliott flat correction down 128.71 it looks more that it would rise to 132.05 - 133.72 from 130.23 or 129.40 after which a down side move is expected
support and resistances
res2 133.72
res1 132.05
piovt 131.07
sup2 128.42

EURJPY current movement under normal conditions on the monthly benchmark. but the position of the weekly MA (120) is still below the monthly MA (480), so that the seller still dominate the monthly benchmark. weekly current conditions in a state trending up, with daily MA position (24) out of 1 SD BB weekly. meaning that buyers dominated the market weekly. but the daily movement seen trying to enter the area daily normal. and look if the price is also stuck in the upper monthly BB (480). if the data block is able to get out of the upper monthly BB then open buy, if the price is not able to penetrate the upper monthly BB (480) and a small directional pointing down then open sell with the aim of weekly upper BB (120). good luck.

Spoiler:

http://i1345.photobucket.com/albums/...pscd1e5900.png

The pair intraday analysis at H1 using williams percentage range and moving average are showing the pair major trend is bullish. It may continue today if the price still traded above the pivot level. Try to find good support and set Long order on it. Today SNR :
R3 : 133.67
R2 : 132.62
R1 : 132.06
Pivot : 130.98
S1 : 130.39
S2 : 129.34
S3 : 128.78

EUR/JPY analysis by using pivot indicator. (H4)

R3 132.583
R2 131.966
R1 131.585

pivot 130.968


S1 130.351
S2 129.970
S3 129.353

The following data is predicted based on indicators that we use for the currency pair EURJPY this day, to this day resistance levels as follows: RI (132.22) R II (132.62) R III (133.67). and to this day support levels as follows: SI (130.01) S II (129.28) S IIII (128.71)
recommendation:
place your buy stop at 131.15 target profit at 131.35 (buyer zone)
place your sell stop at 130.75 target profit at 130.55 (seller zones)

eur/jpy technical analysis by using : average directional movement index wilder(14) & stochastic(5,3,3)

adx wilder(14) level

style : 26.24
+di : 27.93
-di : 13.27

stochastic(5,3,3)

main : 85.00
signal : 65.64

time : 0900
date : 02.08.2013
timeframe : 1 hour

A fakey inside bar setup on the support level for the pair is found for a target of key resistance 132.25. Traders who are still not long in the pair,can look for h4/h1 chart price action buy patterns signal to rejoin the upmove.

There is one thing that is not that alarming, but somewhat annoying. By such a structure, and iii-wave and (iii)-wave must be stretched to a length equal to the length of the i-wave and (i)-waves. But then they fly in level at 133.76, corresponding to the length (3) wavelength equal to 161.8% of the length (1) of the wave. And then-then what? So while modestly and guided to the level of 132.58, corresponding to the condition that (i)-wave, and (iii)-wave.

Overcoming the support line rising channel set the stage for the pair's decline., But the maximum that she was able to achieve - reduced to the level of support otm.129, 599 of which was a "rebound" from the first retest the upper boundary of the trading range, and then the line of the channel. After a technical correction to the support line of the channel growth to continue with the target values ​​elev. 132,657