EJ is on daily 200 ema max it can go is 101.20
so stop buying now and wait for the reversal to happen i think reversal will be really strong now
it has also reached the daily tf resistance of 101.10
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EJ is on daily 200 ema max it can go is 101.20
so stop buying now and wait for the reversal to happen i think reversal will be really strong now
it has also reached the daily tf resistance of 101.10
th .. that's almost tore kickbacks ... and closing the week again under the maximum price ... Monday is usually ren down and some consolidation is defined so that signs of a reversal, or you can count on a further continuation of the trend ... so I'm waiting for the level of support that the pair will keep the time schedule
trading plan 17/09/2012 eur/jpy
after a sharp upward trend this week .. will coreksi tendency towards price before continuing trend up ...
if price penetrates try trendline price correction over the
http://i49.tinypic.com/fw1t1e.jpg
Just last week the pair is confident fixed above 101.30 resistance is now gone south course correction (which was to be expected after such a strong growth), I'm still waiting confidently deeper southern wave.
yesterday along with the run of USD/JPY this pair make a huge upside run.
Ans today its come back again to its trend and testing 102.50 area.
i think this pair can touch 104 level today.
Pivot at 103.17.
Resistance 103.74,104.25
And support at 102.76 and 102.14
E/j is an interesting pair to trade. I only discovered it last yesr. I found out that it correlates with eur/usd. But one thing is that it interestingly has more pips value than the eur/usd and even gbp/usd. I have also noticed that most times it carries more volume on its candles when i compare it with eur/usd and gbp/usd. For the whole of last week it trended up and almost broke the resistance of several months ago. I would keep trading it. Its my best pair and i trde it only on the bigger time frame like 4 hour and 1 hour.
Eur is the symbol of Europian currency. By this currency Forex can be trade. And jpy is the symbol of Japanes symbol of currency. By this currency you can trade in Forex and can invest it.
Spoiler:
Price is below 12 EMA and 72 EMA indicates trend is still down
50 RSI is above 50 indicates the momentum of the trend is still up
Recommendation: wait and see or buy if price is still above 12 and 72 EMA area
Range:1.03.42-101.88
On chart H4 ,running price is above 12 EMA and 72 EMA indicates trend is still up
50 RSI is above 50 indicates the momentum of the trend is still up
Recommendation: buy
Range :103.42-102.46
Pivot: 102.45
Our preference: Long @ 102.53 with targets @ 103.9 & 104.5 in extension.
Alternative scenario: Below 102.45 look for further downside with 101.95 & 100.95 as targets.
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