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In principle, a pair of shows growth ... but the Japanese currency starts to make adjustments ... so while waiting to roll back to the support level of 97.70 ... and then back to the top ... unless JPY pullback is not very strong and will not marry the price down again ....
EURJPY is testing the pivot level (98.50), if it broken, then this pair will likely rise towards 98.94 or higher. However if it fails to break the pivot, the pair may fall to 98.00
Pair eur / jpy on the hourly chart has formed a clear trend sloping support line, notably the price it feels great while I wait closer to her course in order to purchase the northern trend.
With 4 hours MACD crossed below signal line, intraday bias in EUR/JPY is turned neutral first. As long as 95.71 support holds, another rise will remain mildly in favor. Above 99.18 temporary top will target 38.2% retracement of 111.43 to 94.11 at 110.72 next. Though, a break of 95.71 will indicate completion of the rebound and should turn outlook bearish for 94.11 and below.
i think that we should buy EURJPY as we have a support level on the daily chart @23.6% so i predict that this pair will move upward on the short term our target point will be @38.2%.
EURJPY back to sideways range after fails to break resistance level. We're looking for 98.70 to break, and it will bring this pair to go up towards 99.10 level. Otherwise, we'll see if 98.42 is broken, the pair may fall to as low as 98.00
EURJPY is moving near the resistance level at 97.48 now.
Then, if EURJPY can break 97.48 resistance, EURJPY may continue the up trend and the next target is at around 98.45 as the next resistance level of EURJPY
Intraday bias in EUR/JPY remains neutral for some consolidations. As long as 95.71 support holds, another rise will remain mildly in favor. Above 99.18 temporary top will target 38.2% retracement of 111.43 to 94.11 at 110.72 next. Though, a break of 95.71 will indicate completion of the rebound and should turn outlook bearish for 94.11 and below.
Sell the pair below 98.185
Take Profit: 97.985
Stop Loss: 98.485
:good:
EUR/JPY's rebound from 94.11 extended to as high as 99/.18 last week before forming a temporary top there and retreated. Initial bias remains neutral this week for some more consolidations. The cross is staying comfortably inside a near term rising channel and thus, further rally is still expected. Above 99.18 will target 38.2% retracement of 111.43 to 94.11 at 110.72 next. On the downside, break of the channel support (now at 96.96), however, will indicate that such rebound has completed and will flip bias back to the downside for 95.71 support for confirmation.