Usd/Jpy

On USDJPY pair on the hourly chart if you look closely at what VA 2 wave down worked, right now to begin strengthening wave 3 top of the first goal at 99.80 on a small pullback and rise to the level of 101.10 which I think will be 3 waves of reassurance, stop can be put on the level of 98.80*.

short term I am expecting a break above 100.50 for continuation towards 101.56 and then 103.51 because we are not moving below 98.50 and this has given me confidence that ongoing correction is not over and we can see the top tested again And if I am correct then certainly we will see a break above recent highs and test of the top will be seen in few days

regards

USD/JPY pair price already touched upper trend line. Now the price is down trend. I think the price ay touch daily pivot point (99.373).

http://i1311.photobucket.com/albums/...ps28bcd9f5.jpg

It looks like the bulls once again set their sights on the figure of 100 (District 200 MA) until the pair consider buying short-term as is clearly the formation and development of the northern wave "inverted head and shoulders" on 4-hour chart is also mined as MACD bullish divergence on the daily chart is the resumption of the long-term trend.

today i like to sell this pair @ 99.93
my stop loss of the day @ 100.14
half take profit for today @ 99.63
and further half take profit @ 99.24

As you see in my following attached chart, the pair traded between a high of 100.06 and a low of 98.89 closed at 99.09. Today the pair trades below the resistance line of 100.10.
Downside Scenario: USDJPY could decline into the levels of 99.20, then 98.70, if the resistance line of 100.10 holds.
Upside Scenario: upside penetration of the resistance line of 100.10, could help the pair to see the levels of 100.60, then 101.20
http://4.bp.blogspot.com/-xM6Oz-tNYu.../s1600/jpy.jpg

Usd/jpy pivot levels for 17.7.2013 by using fibonacci pivot indicator.

resistant 1:100.50
resistant 2:100.06
resistant 3:99.78

pivot point :99.34

support 1:98.89
support 2:98.62
support 3:98.17

After a long consolidation course still managed to break through the sliding alligator thereby declaring the beginning of a new mid-northern waves break and held the upper zone of the fractal 99.50, a buy signal on the 4 hour chart Stochastic and RSI also formed the northern signals, the goal is now 100.40.

time frame- H1
the macd indicator is giving us long trend signal its bar is moving above the zero line but in the price chart it is not able to break the resistance at 99.80 and rejected. if this is break the pivot point at 99.34 we can short with the take profit at 98.60 and stop loss at the 100.00
good luck.

moving away from lows
pair has walked from yesterday lows sub 99.00 open 99.30 /40
that in the European market