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pair- eur/jpy
analysis time frame- m15
http://i57.tinypic.com/4g6brk.jpg
the up movement of the price is hit the daily resistance level three at 145.83 level and may rejecting down side. the rsi is above the 70 level and showing overbought. if the price is move below the 145.50 then short with profit target at 144.80 and stop loss at 145.95
good luck.
Timeframe is 4 hour.
After FOMC pair had rushed up but right away it started to recover and price at the moment is at 141.51 in the picture above, break of price through any of the trend lines will decide the next course of this par. In 30 minutes BOJ Gov Kuroda will also give a speech and we will find out where is this pair gonna move next. My analysis says it is bearish and next target should be 140.60
The Euro may be preparing to turn downward against the Japanese Yen as negative RSI divergence warns of ebbing upside momentum. A daily close below the 23.6% Fibonacci retracementat 142.19 exposes the 38.2% level at 140.65. Alternatively, a turn above the 23.6% Fib expansion at 144.46 opens the door for a challenge of the 38.2% threshold at 145.93
On our EURJPY pair today we can see that the price is taking a upward direction and that’s due to the blue dots below the candles if the price kept its position higher than the strong support 140.6867 which happens to be a weekly pivot level then I can assume that price would be taking a north direction till it reaches the weekly pivot resistance 144.5067 .
On the other hand if the price penetrated the support at the level 140.6867 and red dots appeared indicating bearish signals then I can assume that the price will be taking a south direction till it reaches the support of the level 138.6233 of the next Pivot level.
http://bigimage.cz/photos/20010128980681664184806.gif .
Daily Forecast
Pair: EURJPY
Major Trend: NEUTRAL
Time Frame: H4
Reason: Previous resistance at 144.69 area which has been broken, yet corrected. Price still tend Bullish. The price will likely correction in the area 144.69
Recommendation: Sell with targets at 144.69 or Buy Limit at 144.69
http://prntscr.com/5768nh
analysis for today 11 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 11 / 14 / 2014
OPEN 144.43
HIGH 145.83
LOW 14431.00
CLOSED 145.68
The third resistance (R3) 145.83 - ( 4907.50 - 14431.00 = -9523.50 x 2 = -19046.99 )= -18901.16
The second Resistance (R2) 4907.50 + 145.83 - 14431.00 = -9377.67
First resistance (R1) 4907.50 x 2 = 9815.01 - 14431.00 = -4615.99
pivot points 145.83 + 14431.00 + 145.68 = 14722.51 / 3 = 4907.50
Support for the first (S1) 4907.50 x 2 = 9815.01 - 145.83 = 9669.18
Support second (S2) 4907.50 - ( 145.83 - 14431.00 = -14285.17 ) = 19192.67
Third Support (S3) 14431.00 - ( 145.83 - 4907.50 = -4761.67 x 2 = -9523.35 )= 23954.35
يوجد قناه صاعدة حاليا مرسومة على شارت EURJPY وقد يكون السعر حاليا يذهب فى اتجاه صاعد على النحو القصير ولابد ان نشاهد السعر قد وصل الحد السفلى من قناه دونتشين والتى يمكن انت تكون اشارة ان السعر يظهر متجها شمالا ويجب ان نلقى نظرة على مؤشر اوسم انديكيتور فهو يظهر بار احمر فوق مستوى الصفر ليعطى اشارة بيع فى الوقت المبين حاليا ونرى ايضا ان مؤشر الستوستاتيك يبين اشارات بيعية بسبب ظهور تقاطع بيعى وتواجد الخطين حاليا قرب مستوى 20 بينما انا اتوقع بناء على المعلومات والمعطيات الموضحه ان الرهان على الاتجاه الصاعد وربما يكون رهانا رابحا ويمكن استهداف الحد الاعلى من قناه الدونتشين ولكن ننتظر التاكيد من مؤشر انديكيتور قد يساعد على زيادة فرصه ربح صفقات الشراء http://bigimage.cz/photos/20141117141620988154193.gif
Because the price is now lower than the EMA level as you can see on the chart of EURJPY in front of you a bearish trend assumed to take place on the current day.
On the other hand the power line indicator is now above the level of 80th as you can see and of course this can be considered as a good signal for a upward direction.
Finally the sell position can be think about and to calculate the power of the trend you can use the data of the power momentum indicator which shows a big power of the bearish trend .
http://bigimage.cz/photos/20141117141621034319626.gif
EUR/JPY for November 17, 2014 General overview for 17/11/2014 07:40 CET: Five wave impulsive sequence might be completed here at the level of 146.51. Now, at least three wave corrective cycles should start, but the confirmation comes first with the level of 144.71 breakout. Then, intraday golden trend line breakout would be possible as well. Nevertheless, the last wave to the upside might not have been completed as blue wave 4 is still a rather small corrective wave when compared to the other corrective cycle inside of the progression. That would mean, the current downward wave might be purple wave c of the overall very irregular flat corrective cycle in blue wave 4. Traders need to wait until the market to confirms/invalidates this scenario.
---------- Post added at 04:13 PM ---------- Previous post was at 04:12 PM ----------
Support/Resistance 17 November: 149.04 - WR2 148.01 - WR1 146.51 - Swing High 145.02 - Weekly Pivot 144.71 - Technical Support 143.93 - WS1 Trading recommendations: It looks that at least in the short term the market favours the sell side and this kind of orders should be placed in this pair. The SL level should be placed above the level of 146.51 and TP at the level of 143.32.
---------- Post added at 04:14 PM ---------- Previous post was at 04:13 PM ----------
Support/Resistance 17 November: 149.04 - WR2 148.01 - WR1 146.51 - Swing High 145.02 - Weekly Pivot 144.71 - Technical Support 143.93 - WS1 Trading recommendations: It looks that at least in the short term the market favours the sell side and this kind of orders should be placed in this pair. The SL level should be placed above the level of 146.51 and TP at the level of 143.32.
Because the price is now lower than the EMA level as you can see on the chart of EURJPY in front of you a bearish trend assumed to take place on the current day.
On the other hand the power line indicator is now above the level of 80th as you can see and of course this can be considered as a good signal for a upward direction.
Finally the sell position can be think about and to calculate the power of the trend you can use the data of the power momentum indicator which shows a big power of the bearish trend .
http://bigimage.cz/photos/20141117141621034319626.gif
Spoiler: