We still expect a bullish tendency on EurJpy pair depending on the stability of the major support at 133.50 and wait for the rush of price towards the resistance level at 136.70.
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We still expect a bullish tendency on EurJpy pair depending on the stability of the major support at 133.50 and wait for the rush of price towards the resistance level at 136.70.
After the first hours of trading up slightly, the euro was ultimately not able to win against the yen on Monday. No technical indicator will be on Tuesday, the day program for these two currencies, which could lead to a new day of stagnating course. Overall the week will be quiet in indicators, which will mean a focus on general economic issues and in particular the euro area, for active traders on the cross.
Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: It appears that the market managed to reject the aforementioned pivot point at 133.81. If this situation continues, then the market will continue to go to the 161.8 Fibonacci resistance at 135.22 in the third
Recommendation: Buy
It ended the pair price of trading yesterday presenting positive for blockages above the level of 133.50 to strongly influenced by the SMA 55 and supports Tmaxh control the rising tendency, so we will come back to tip the upside bias intact the previous level of support and wait for his arrival to the level of 136.70 and which has long been the main obstacle to emerging attempts for the last period.
pair- eur/jpy
time frame analysis- m15
http://i62.tinypic.com/28vyuzl.jpg
the down movement of the price is not able to break the strong support trend line at the 133.80 level and again up side. the macd indicator is also above the zero level but its not able to break resistance at 134.80 level. short with stop loss at 135.43
good luck.
Both currencies have devalued against the USD, but absolute change, the euro has "limited the damage" unlike the yen. So logically the euro rose, albeit slightly, against the Japanese currency. The day Wednesday will not include important economic indicator for the two currencies, but it will of course remain vigilant to possible announcements of the G7 meeting not to be surprised by strong movements in one direction or the other.
The pair price spread in a positive and clear during the day yesterday to acquire the positive momentum of the stability of the support level and note his arrival to the level of 135.35, the above will support the bid price reaches the previous resistance and centered at 136.70 to form that first goal and we note that the success of the price broke the resistance will open the way for the price to score more of the profits starting from 137.65.
For the EURJPY pair - still strong enough opportunity to further bullish. 135.01 fibo note. breakup at 135.01 would open up new avenues for further bullish on this pair
Stochastic succeeded to get rid of saturation level selling strongly and rushes towards the level of 80 to more than that of positive pressure and in line with the positive confirmation of the moving average rising for control of the next period.
Expected trading range for today between 134.10 and 136.70
it looks like prices will fall at that point.
good luck... it may encounter resistance at 117.80 (May 31 high), 118.50 (April 26 low) and 119.20 (May 3 low). To the downside,
Spoiler: