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The pair again came close to the support at 128.30 which focused bulls, this support zone is long-term, given the strong decline in the last few days in the first place will be waiting for the release from the northern area of 128.30 to 129.00 figury.Alternativny option-building below 128.00, will lead the pair to 126.70-126.30.
today i like to buy this pair @ 128.26
my stop loss of the day @ 128.00
half take profit for today @ 128.50
and further half take profit @ 128.88
Sorry friend abhi tu forex trading shroo nahi kee jab shroo karian gay tu zaroor send karain gay yahan .. bohat jald
The pair remains under strong selling pressure concentrated in the area of moving an alligator, but also on the south course until the start up of the lower support zone around 128.30 fractals, so sales plan to open at strengthening below 128.30, the turning point in the north is higher than the top-fractal 128.80.
So the currency pair as mentioned earlier, the rebound went from 50% Fibonacci level, but this is a temporary phenomenon, yet still have to get the 127.80 mark, but already there and will be looking to what's next, now just a rebound, and associated with a slight increase the index and the growth of the euro itself, very heavy steam, hard to believe though, and going in the right direction.
As you see in my following chart, the pair traded between a high of 130.16 and a low of 129.43, closed at 128.45. Today the pair trades below the resistance line of 129.60.
Downside Scenario: EURJPY could decline to the levels of 127.60 then 126.60, if the resistance line of 129.60 holds.
Upside Scenario: Upside penetration of the resistance line of 129.60 could send the pair to the levels of 130.50 then 131.30.
http://2.bp.blogspot.com/-OQpGwsEc0n...600/eurjpy.jpg
EUR/JPY analysis by using pivot indicator. (H4)
R3 130.246
R2 129.775
R1 129.485
pivot 129.014
S1 128.543
S2 128.253
S3 127.782
elliott elongated flat correction down 127.70 market should not go lower than 127.88 after this move down it should go up to 129.61 area
support and resistancse
res2 130.76
res1 129.61
piovt 129.04
sup1 127.89
sup2 127.31
eur/jpy technical analysis by using : average directional movement
index wilder(14) & average directional movement index(14)
on 09.08.13
timeframe : 1 hour
time : 1100
market trand : down
adx wilder(14) level
style : 20.49
+di : 21.16
-di : 14.39
adx(14) level
adx : 32.66
+di : 16.25
-di : 8.70
EUR/JPY Signal Today August 9, 2013
EURO ended the session on Thursday with losses of 0.73%, versus the yen, bouncing back after slipping to a near monthly low. Although the pair closed above crucial levels at 128.40-128.60, the gains could be short lived and the pair likely to test supports at 128.20- 128.60 again in today's session. In the near term too, the pair looks to 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: Bearish
Medium term: Bullish
Long term: Bearish
Trading Recommendations
Short:
Hold on to short positions initiated at 129.40 with a stop at 129.80 for a profit target of 128.60