The yen was at 103.05 per euro in trading today.
The yen has decreased significantly compared to the early closing day at 102.84 level.
This morning the yen had strengthened to 103.12 to the position.
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The yen was at 103.05 per euro in trading today.
The yen has decreased significantly compared to the early closing day at 102.84 level.
This morning the yen had strengthened to 103.12 to the position.
we have a very good chance to sell EURJPY now as we have a resistance level on the daily chart @50% so i predict that this pair will move downward on the short term our target point will be@38.2%.
From the shown H4 chart i think we have a great chance to start buying when the price go close to the support level @23.6% fibonacci , as it is expected that this level could push the price again into bullish direction so we can buy near this level with a small stop lose below it ,
Attachment 4580
EURJPY had been rejected by the 103.18 resistance level yesterday.
Now, this pair is moving near the support level at 102.19. I think if EURJPY can break this support, EURJPY may continue the trend correction and has a chance to touch or hit the next support level at 101.30
this thread is devoted to EUR/JPY discussion.
EUR/JPY
short 127.49 sl 127.72
1st tp 127.28
2nd tp open
On the H1 chart, the price is under the EMA 12 and EMA 72 indicates the trend is down
RSI 50 is below 50 indicates momentum area trend is down
Recommendation: sell
Range :102.38-101 .36
http://img269.imageshack.us/img269/8995/imagejk.gif
The pair EUR/jpy continued downside, which began yesterday after being bounced from the 103.62 resistance and moving average exceeded 55 and broke through 102.49 and 102.13 levels
The price now fluctuates around levels 101.00, trying to penetrate the support at 100.89
Stochastic gives a negative signal again and moving average 55 higher price, which could mean the continuation of landing
EURJPY had been rejected by the support level at 101.30. But now, I think EURJPY just making a little correction because in my view, the bearish pressure still strong enough. Then, if EURJPY can break 101.30 support level and also the yesterday's low, I expect EURJPY can fall to the next support level at around 100.43
Spoiler:
At the H4 chart, price is above the EMA 12 and EMA 72 indicates the trend is still up
RSI 50 drift over area 50 indicates the trend is still up
Recommendation: buy
:102.30 Range-101 .04
this pair is going to form inverted hammer in H4 we may see more down after that candle formation.