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eur jpy
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On the H4 TF, we are observing the harmonic pattern low on bottom of the bearish channel and also a positive divergence has happened at almost the same time. Till May 20th its time will be fulfilled and we are expecting an up move if the demand fuels up across the market and having the price stabilized around 139.00.
http://pcmupload.broker-fa.org/uploa...0438839491.gif
Today's Analysis for the EURJPY According to the analysis I did, I predicted some strong points for the selling or buying to be commenced, I think 138.77 would be a great place to start selling from but only if a candle stick closes below that support level, other wise start buying. As for the resistance level, I think 139.33 would make a strong place for it. Attachment 10998
I think according to the last day move that we may face a Down trend for the EURJPY pair for me I use the best support and resistance levels in order to buy or sell according to Carmella lines so the best area for buying should be at 138.84 and 138.66 while the best area for selling can be founded at 139.21 and 139.38 . Please use your own analysis before applying for this one. .
Attachment 11016
analysis for today 5 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 5 / 16 / 2014
OPEN 139.24
HIGH 139.40
LOW 138.77
CLOSED 138.97
The third resistance (R3) 139.40 - ( 139.05 - 138.77 = 0.28 x 2 = 0.55 )= 139.95
The second Resistance (R2) 139.05 + 139.40 - 138.77 = 139.68
First resistance (R1) 139.05 x 2 = 278.09 - 138.77 = 139.32
pivot points 139.40 + 138.77 + 138.97 = 417.14 / 3 = 139.05
Support for the first (S1) 139.05 x 2 = 278.09 - 139.40 = 138.69
Support second (S2) 139.05 - ( 139.40 - 138.77 = 0.63 ) = 138.42
Third Support (S3) 138.77 - ( 139.40 - 139.05 = 0.35 x 2 = 0.71 )= 138.06
Daily technical analysis for EURJPY 19/05/2014
EURJPY current fall is near an end of wave around 138.77 zone, a rally should then procede to above 139.43. Fall below 138.44 would cancel this scenario.
Key Point 139.07
Entry Point 138.95
Trendline 1 139.22
Trendline 2 139.01
Support 1 138.77 Support 2 138.44
Resistance 1 139.43 Resistance 2 139.76
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The pair can not break the heiken ashi and formed a bearish engulfing pattern. Now if it manage to be closed below pivot range 138.982, the pair will continue to go down towards null target at 138.658 and may still continue lower to reach reverse level 138.354
Daily analysis for EURJPY
EURJPY extended impulse wave down 138.24, lower, new daily low close to first daily support 138.77
Elliott 140.95
Closing 139.09
Ex-Low 138.78
Ex-High 139.44
Support 1 138.78
Support 2 138.45
Resistance 1 139.44
Resistance 2 139.77
analysis for today 5 / 19 / 2014
EUR/JPY (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 139.01
Retracement (50%) 139.09
retracement (61,8%) 139.16
Extensions (61.8%) 138.38
Extensions (100.0%) 138.14
Extensions (138.2%) 137.90
Extensions (161.8%) 137.75
calculation based on a Fibonacci retracement then today I choose sell
pair- eur/jpy
chart analysis time frame- m30
http://i61.tinypic.com/2d8nolt.jpg
the price is moving in strong down trend side in down channel pattern. the price is now at the resistance with the moving average 50 and pivot point level 139.00 this will again down side. we can make short entry with breaking 138.68 level and take profit 138.00 stop loss at the 139.50
good luck.