nice rising momentum for this pair started from last monday have give me a clear signal for a correction swing already in , i think the price is nearing the top for wave a in the daily chart and later on next week the wave b and c will unfold
Printable View
nice rising momentum for this pair started from last monday have give me a clear signal for a correction swing already in , i think the price is nearing the top for wave a in the daily chart and later on next week the wave b and c will unfold
The break of 106.50 minor support indicates that recovery from 104.63 is possibly completed at 108.00 already. Intraday bias is flipped back to the downside. After all, price actions from 111.42 are treated as a correction and deeper decline could be seen to 104.63 and below. Above 108.00 would bring another rise towards 111.43.
As we see from H4 chart , EURJPY tested the down trend and now it will move downward again so we expect it reach the support level at 38.2 % and make retest so we can make sell order now .
Attachment 992
EURJPY Potential Rebound. Intraday bias remains neutral in the short term. On the side it is still necessary and consistent penetration of the daily closing above 107.15 area to continue the bullish scenario testing area of 108.00 - 111.45.
Support the closest look at the 106.30 area, fell again under the area should trigger further bearish pressure targeting the 106.30 support area.
http://img40.imageshack.us/img40/1779/eurjpyp.png
The pair is going up after facing the uptrend as shown in the chart , the pair will face soon the resistance level @ 106.16 (23.6%) and i expect it to break this level and beyond it reaching the downtrend line , then the pair will make retest and go down again , i suggest from here to buy this pair on the short term , Good Luck
i think that EURJPY will move upward on the short term as we have a moving up trend and so i suggest buying now with tp1@23.6% as we have a resistance level@this level.
i think that the pair will rise, so you can buy with target 107.00 as there will be a resistance on the daily chart.http://img14.imageshack.us/img14/1980/20439697.jpg
EURJPY is moving in down trend there as show in H4 chart , but there is a support level at 104.46 , so if the pair couldn't close below this level we will expect up direction for this pair till reach the down trend and make retest , and then we can make buy order .
Attachment 1086
We can see in H1 chart of the pair. The price has made a strong decrease from 111.42. Price crossed the Kumo Cloud and it is under the EMA 200. MACD is under zero line. So, I think the main trend is downtrend now.
http://s13.postimage.org/u47oynz2v/image.jpg
price movement is strongly influenced by the euro jpy and usd euro usd jpy both the tug each other with each other if the euro usd usd jpy rose then fell while eurojpy relies heavily on them if one of the dominant curency ej will move to follow any curency dominant if on the contrary he continued to follow the most dominating, if there is a reversal of the direction of the price that had been strong up or down will turn around immediately, regardless of the previous motion because this is so very difficult position we are trading euro jpyQuote:
Originally Posted by jango