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After working range 128.79-128.99 pair worked as expected bullish divergence, but that growth is over and continue to expect continuation of reduction and the achievement level of 127.79 to start, there is a purpose and lower, but for now I will focus on this, and more, and 50% tax rate is also taken into account.
Hi,,
in the chart 4h we can see the pair will go to down way in the future
I see the pair will go to 127.98
I expect from this analyze that the price will go to down way
so sell from 128.60 to 127.98
good luck
Eur/jpy analysis for 08.08.2013 by using pivot indicator.
r3: 131.294
r2: 130.719
r1: 129.578
pivot: 129.003
s1: 127.862
s2: 127.287
s3: 126.246
elliott flat correction down 129.20
it may attempt a test higher to 131.66 - 132.44 which weakness may set to a drift down to 129.79 limit
support and resistances
res2 133.53
res1 132.44
piovt 130.89
sup1 129.79
sup2 128.24
Eurjpy have a nearest support @ 128.60 and further support level is @128.30 Once this 2 support break than scenario can be changed for today and it may have its clear journey for move under 127.00
On other way if its continue its uptrend it will get a very strong resistance @129.50 and Than further resistance @ 130.10 if both resistance breaks scenario can be change fully and it may have its clear journey to 1.32-1.34 level.
EUR/JPY Signal Today
EURO ended the session on Wednesday with losses of 1.23%, versus the yen, closing in the negative for the fourth session in a row at levels last seen on 27th June 2013. The pair broke out of the 129.00- 132.00 range that it was trading in for the last several sessions and closed below crucial breakouts at 128.60. Near term, the pair could be heading lower to 126.50- 126.75 unless we see a bounce back above 129.50 in the next couple of trading sessions
Trend direction
Short term: Bullish
Medium term: Bullish
Long term: Bearish
Trading Recommendations
Short:
At 129.40 with a stop at 129.80 for a profit target of 127.00
EUR/JPY pair price already touched Fibo 0.0 level and lower trend line. Now the pair try to move up ward. I think the price may Fibo 23.6 level.
http://i1311.photobucket.com/albums/...ps6e543624.jpg
EUR/JPY intraday: resistance at 129.75. BEARISH bias
Pivot: 129.75
My choice: Open SELL positions underneath 129.75 with targets at 128.35 and 128 in extension.
Alternate choice conditions: Over 129.75 check for further up-side with 130.15 and 130.9 as targets.
http://dl.dropbox.com/u/51561036/scr...808-203601.jpg
The euro / yen is located at 128.60 and currently is in the middle of the descending channel. The price chart below . AC indicator below the zero line in red. Stochastic is in oversold zone. Thus, the prognosis. Most likely the pair will continue attempts to break through the bottom of the channel, and if successful will rush to conquer the 127.87 level. As for the likelihood of the growth ... I do not think ... To reach 129.25 will be very difficult.
eur/jpy technical analysis by using : average directional movement index wilder(14) & average directional movement index(14) on 08.08.13
timeframe : 1 hour
time : 1600
market trand : down
adx wilder(14) level
style : 22.49
+di : 14.53
-di : 23.02
adx(14) level
adx : 19.78
+di : 9.25
-di : 12.82