Eur/Jpy

EUR JPY breaks the initial support- analysis- 5/3/2015

The EURJPY achieved a clear break to the initial support level at 133.0, due to the repeated negative pressures since the last period, to reach the expected target in the previous report at 132.50, the main indicators continues to provide negative momentum, which makes us expect the continuation of forming bearish waves then wait for achieving the next targets at 130.80 and 128.70.

Stochastic attempts to settle within the oversold level to increase the negative pressure and to confirm the previously expected dominant negativity.

Expected trading range is between 133.50 and 130.80

Expected trend for today: bearish

pair- eur/jpy
time frame to analysis- m30

http://i57.tinypic.com/24ngrcx.jpg

the price is having support at 132.20 level and moving up side and the price is showing overbought as moving level 70 with rsi indicator. the price may hit the higher resistance at 134.00 level. long with the stop loss at 132.55
good luck

EURJPY

The pair extended its slide from Feb. highs to retest 133.00 level, nearing 132.70-65 immediate support marked by the lower trend-line support of a short-term descending channel formation on 4-hourly chart. Failure to decisively move back above 137.00 mark resistance and a subsequent drop below a short-term descending channel now seems to confirm continuation of the short-term corrective move back towards 130.00 mark with intermediate support near 132.20 and 131.25 levels. Alternatively, should the pair continue holding above 133.00 mark and manage to clear 133.60-70 immediate horizontal resistance, it could possibly continue appreciating further towards testing the upper trend-line resistance of the descending channel, currently near 134.60-70 area. Further, a decisive move break above the descending channel now seems to pave way for an immediate retest another strong resistance near 136.00 mark.

Basic levels for EUR/JPY:

134.50: medium-sale offers.

134.42: Fibonacci retracement level of 50% during the course of the pair down from 136.70 to 132.15.

133.66: Fibonacci retracement level of 61.8% during the course of the pair down from 134.60 to 132.15.

133.50: medium-sale offers.

133.00: medium-sale offers.

132.98: Fibonacci retracement level of 50% during the course of the pair down from 133.81 to 132.15.

132.10 / 00: Buy Medium / stop loss orders requests.

131.50: Buy requests medium.

131.00: strong buy orders.

130.50 / 00: Strong / stop loss orders to buy applications.

EUR/JPY Mid-Day Outlook

Daily Pivots: (S1) 132.05; (P) 132.95; (R1) 133.50

Intraday bias in EUR/JPY remains on the downside for the moment. Corrective rise from 130.13 should have already completed. Further fall should be seen for retesting 130.13 first. Break will confirm resumption of recent down trend and should target next fibonacci level at 128.50. However, above 134.58 minor resistance will dampen this immediate bearish view and would extend the consolidation from 130.13. In that case, upside should be limited by 137.63 resistance to bring down trend resumption eventually.

The price of the pair moves starting from the wave (134.60) It is noted that the limits of the main trend line drawn for this wave along the between-level (133.27) and (133.92 is worth mentioning that the current wave goal access to the area (132.02)

pair- eur/jpy
time frame to analysis- m30

http://i59.tinypic.com/2jfhlk4.jpg

the rsi indicator is moved below the level 30 and showing strong oversold. the parabolic sar is also in the down trend side. moving average 50 resistance at 132.45 level rejecting its up movement. hold the short entry with take profit at 131.23 and stop loss at 132.50
good luck

the market still in a downtrend and the thecnical indicator doe not shows the end of the correction it seem that the market will face a support at 130.21
the rsi is on the over sold zone and the cross is under of its moving average a conformation for buy is needed to go long however this is not a place where we take short

The price of the pair moves starting from the wave (134.60) It is noted that the limits of the main trend line drawn for this wave along the between-level (133.17) and (133.43 is worth mentioning that the current wave goal access to the area (132.02)

EURJPY remains negative- analysis- 6/3/2015

The EURJPY kept its within the negative level if the broken support settled, which represents the critical resistance at 133.50 now, and that supports the continuation of the price attempt to form new negative waves, to wait for achieving the first target at 130.80, then the trading will extend towards 38.2% Fibonacci at 128.70 level.

If stochastic succeeds to reach the oversold level, so that will support gaining a new negative momentum, which supports our bearish suggestion until reaching the previously suggested targets.

Expected trading range is between 133.50 and 130.80

Expected trend for today: bearish.