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Judging from the graph we can say that the pair fell steps immediately see a strong white candle on top ... so I think if you still have the strength to break through the resistance level of 97.00 a pair potential within the corridor will be 97.00 - 98.00 ....
My weekly analysis :
the pair is too close to make anew monthly low price at 95.5x and the the last week candle supports down direction in the next week so for my trading the pair will continue down next week until the 95.5x level if it succeeded to close down of it so the new historical record at 88 will be very soon and if it fails to hit the last month low so it will correct up and the direction may be change ( See Chart )
Attachment 2449
Today i trade gap of this pairs and make good pisp in just few hours, In last week this pair was well worsed in downword direction and on friday it move upward and gain much in short time now according to me it will return to thursday's low So this is a good oppertunity for trading we must get in.
EURJPY is a pair, the most wide movement to the London session today. This pair already weakened 100 points, since the opening day. Is likely to touch the 96.18 level before experiencing a correction. Or it will continue to the 95.92 level
vapor coming back to the previous month's minimum and 96.20 support level from which the last time the correction began, most likely the trend will pull a couple more to the south and a breakthrough level of 96.23 to happen.
pair again traded above the support level of 96.48, it seems that level the breakdown was false, then we should expect the formation of the North to the first wave to the resistance level of about 97.00.
http://i46.tinypic.com/dq10ky.gif
The short term trend of the pair is to the downside. Intraweek trading range of the pair is expected among key support at 93.35 and key resistance at 99.60. Based upon my chart analysis, I prefer to stay aside from the pair until we get a confirm setup for the upcoming big move.
EUR / JPY candle closed above the 76 day Fibonacci expect to see, but we rise above the closure Trend four hours to make sure of the Ascension
http://www4.0zz0.com/2012/07/16/22/902780661.png
MASD shows the divergence, and the price could not be enhanced above the 97.27 resistance and is now directed towards the south, if it could also overcome, and a sloping line of the goal will be a minimum of about 96.30.
i think that we should wait until EURJPY reach the moving down trend and the resistance level@23.6% then we can sell after the pair reaching this level .