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The momentum indicator shows a clear cross on the EURJPY chart when the blue line heads below the red line to construct a very good selling signal for now.
On the Oracle Strength indicator a red color is shown and it is an indication for the bearish direction for the EURJPY pair.
The red color of the arrows can be a confirmation for the downward direction at the Oracle direction indicator.
As a result of the previous indicators the bearish trend would be appeared as the sell cross of the momentum indicator appears on the chart and the sell trades advised to be taken as the ATR indicator still showing a sell signals.
http://bigimage.cz/photos/20141117141621021165833.gif
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pair- eur/jpy
analysis time frame- m15
http://i59.tinypic.com/28rm6if.jpg
the up movement of the price is break at the supporting trend line 145.30 level. this movement is hold at the support 144.85 level and making correction. the price is again rejecting with moving average 50. its down movement continue expected with take profit at 144.00 and stop loss at 145.73
good luck.
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On the drawback, whilst beginning pullback to 143.28 can't be discounted, figure said support at 142.09 would restrict drawback and bring an alternate up-move later to previously stated upside targets. An every day close underneath said support at 142.09 would concede and hazard rectification to 140.80-90, then again, drawback ought to be restricted to 140.00 and now at 139.50 would contain shortcoming and bring an alternate rally later. Buy at 140.80 for 143.80 with stop underneath 139.80.
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On our EURJPY pair today we can see that the price is taking a downward direction and that’s due to the red dots above the candles if the price kept its position lower than the strong resistance 146.95 which happens to be a weekly pivot level then I can assume that price would be taking a south direction till it reaches the weekly pivot support 143.19 .
On the other hand if the price penetrated the resistance at the level 146.95 and blue dots appeared indicating bullish signals then I can assume that the price will be taking a north direction till it reaches the resistance of the level 148.27 of the next Pivot level.
http://bigimage.cz/photos/20141117141626365110850.gif .
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Daily Forecast
Pair: EURJPY
Major Trend: Bullish
Time Frame: H4
Reason: The price has to make corrections in the pivot point today which is also a 61.8 Fibo at 145.51 price. If support at 144.85 area translucent, then chances are the price will go to the Fibo 161.8 (143.78), although the trend for the long term is still bullish
Recommendation: Sell with a target of 143.78
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EUR/JPY is trading at 145.40, up 0.29% on the day, having posted a daily high at 145.53 and low at 144.98. EUR/JPY has been consolidated at these levels within a cent range from yesterday’s business and today's post the GDP result in Japan. Focus now turns towards whether there will be a snap election before year-end and the timings of that.
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http://prntscr.com/57j3kd
analysis for today 11 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 11 / 17 / 2014
OPEN 145.96
HIGH 146.52
LOW 144.79
CLOSED 145.21
The third resistance (R3) 146.52 - ( 145.51 - 144.79 = 0.72 x 2 = 1.43 )= 147.95
The second Resistance (R2) 145.51 + 146.52 - 144.79 = 147.24
First resistance (R1) 145.51 x 2 = 291.01 - 144.79 = 146.22
pivot points 146.52 + 144.79 + 145.21 = 436.52 / 3 = 145.51
Support for the first (S1) 145.51 x 2 = 291.01 - 146.52 = 144.49
Support second (S2) 145.51 - ( 146.52 - 144.79 = 1.73 ) = 143.78
Third Support (S3) 144.79 - ( 146.52 - 145.51 = 1.01 x 2 = 2.03 )= 142.76
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As you can see on the EURJPY chart the price is moving at a up channel to lead the price for upward direction through the upcoming hours.
Now the price hits the upper edge of donchain channel and I can say that a trades can be open by now targeting the south edge of the channel.
Stostatic by the way have a buy signal by having a bullish intersection near the 80 th level.
Finally a buy signal is shown on the awesome oscillator as you can see by having the bars above the 0 level and also the last bar is colored by green To make a clear decision from the previous givens the price have a better chance to head up till the high level of donchain channel but if you face the up edge of manually drawn channel then you have to close any buying trades and for more strength for your trades waiting for a buy signals from awesome oscillator and stostatic is preferred http://bigimage.cz/photos/20141118141629165915779.gif
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On the EURJPY chart the MA indicator color was changed to be Green at the same time the candles started to show a green color that can be consider as a good sign for a bullish trend to be going.
On the BB MACD indicator we can get green dots above the zero th level that is a signal for the strength of the bullish trend for now.
Due to the analysis I believe that the bullish direction is the powerful one and we should make buy trades targeting the resistance at 145.8 that can be easily reached by the price in the few coming hours but all of this only if the price is strong to hold above the support of 145.2 .
http://bigimage.cz/photos/20141118141629272145427.gif
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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/20141118141629149329901.gif
Spoiler: