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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 technical analysis for EURJPY 20/05/2014
EURJPY should hold major support at 138.70 before rising towards 139.41 or even 139.67 limit.
Key Point 139.35
Entry Point 138.98
Trendline 1 138.96
Trendline 2 139.10
Support 1 138.75 Support 2 138.36
Resistance 1 139.41 Resistance 2 139.67
Nice strategy range strategy work very well with a good combination of price action it works like magic i like watching bull and bear traps in range setups and it works very well i like this your crossover too 10ema and 50ema i think is accurate
analysis for today 5 / 20 / 2014
EUR/JPY
Resistance : R1 139.34 R2 139.59 R3 139.79 R4 140.09
Support : S1 138.49 S2 138.24 S3 138.04 S4 137.74
Open : 138.97
High : 139.24
Low : 138.59
Running Price : 139.11
Strategy : BUY at the level 139.11 stop loss at the level 138.49 target take profit at the level 139.79 or at the level 140.09
The uptrend stopped at the full target line 139.222 and also at the upperband BB. A sell arrrow signal followed after that, it indicates the possibility to move down towards pivot range. But if price manage to break full target level, a bullish continuation will head to reverse line at 139.613
daily analysis for EURJPY
EURJPY correction zigzag 139.78, ower, new daily low close to first daily support 138.75
Elliott 138.62
Closing 139.15
Ex-Low 138.62
Ex-High 139.27
Support 1 138.76
Support 2 138.37
Resistance 1 139.42
Resistance 2 139.68
Trading Signal - 20/05/2014 - 10:00 GMT +3
Instrument: EURJPY
60min CHART
Downwards Strong
The TP2 was almost reached and the market is at risk of correcting higher. We moved the stop loss at the new Lock in Profits level (139.50). Provided the market conditions will remain the same the TP2 will be reached soon.
Support & Resistances
138.70 139.30
138.30 139.60
137.70 140.10
http://dl.dropbox.com/u/51561036/scr...520-211933.jpg
pair- eur/jpy
chart analysis time frame- m30
http://i60.tinypic.com/mjwwn9.jpg
the resistance of the moving average 50 have been break with the resistance trend line at 139.00 level but its up movement is rejecting down from the 139.25 level. now it is again down side in the major trend. short with take profit at 138.30 and stop loss at the 139.10
good luck.
analysis for today 5 / 20 / 2014
EUR/JPY
Resistance 3 139.89
Resistance 2 139.59
Resistance 1 139.39
Pivot Point 138.97
Support 1 138.44
Support 2 138.24
Support 3 137.94
BUY STOP 139.39 STOP LOSS 138.44 TAKE PROFIT 139.59
SELL STOP 138.44 STOP LOSS 139.39 TAKE PROFIT 138.24
Daily technical analysis for EURJPY 21/05/2014
EURJPY should pop up towards 139.07 or 139.25 this bullish scenario would be damaged if 138.65 - 138.64 zone is broken, a severe break down could then occur.
Key Point 138.74
Entry Point 139.03
Trendline 1 138.94
Trendline 2 138.94
Support 1 138.49 Support 2 138.14
Resistance 1 139.25 Resistance 2 139.66