as we have a support level on the daily chart @38.2% so i predict that this pair will move upward on the short term so i suggest buying this pair now our target point will be@50% level.
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as we have a support level on the daily chart @38.2% so i predict that this pair will move upward on the short term so i suggest buying this pair now our target point will be@50% level.
I think EURJPY is trying to reach the resistance level at 101.30. But in my view, the up trend is not too strong now. So, it will be better to wait and watch the price action that will happen on 101.30 resistance level. if EURJPY can break that level, this pair may continue going up to the next resistance level at 102.19.
Eur/jpy technical analysis for 03.10.2012 by using : Auto pivot indicator.
resistance 3:102.08
resistance 2:101.65
resistance 1:101.32
pivot point :100.89
support 1:100.56
support 2:100.13
support 3:99.80
The pair arrived yen resistance level for the descending channel in sync with the stochastic entering overbought areas, which keeps our expectations for the downside list effective and supported by SMA 50, which protects the resistance for the descending channel mentioned.
We recall that the break of 77.65 will gain suggested bearish trend accelerated.
Expected trading range for today is between: Support 76.30 Resistance 78.30
General tendency is expected for the day: Down
As against the U.S. dollar, the euro continued its rise against the yen (+0.42% yesterday) that allowed it to reach a higher level 101.19.
Today investors will pay attention to several European Services PMI at 11am and especially retail sales in the euro area in August. It is expected a figure less bad than last month at -0.1%. But who pays attention to the statistics now ...! Technically, the pair is a support to 99.49 and resistance at 101.46.
Couple steadily strengthened above 101.00 figure and continues to increase, this figure breakthrough opened the way up to the resistance level 102.00 (there is my goal) is also noticeable upward trend in the index of the euro on all fronts.
If we analyze the daily chart is noticeable that the pair began to form a new south trend, now trading above the moving rate of the alligator and began work stochastics buy signal, goals I still northern.
Spoiler:
On the H1 chart, price is above the 12 EMA and 72 EMA indicates the trend is still up
RSI is above 50 area 50 menanndakan trend is still up
Options: BUY
Take profit: 101.84
http://img109.imageshack.us/img109/8796/imagejp.gif
Rebounded EUR / JPY today after touching strong support level of 100.76 existence SMA 55 has Vsassad strongly penetrates 101.18 and is now on the threshold of resistance 101.41 trying impenetrable
There can be some volatility or bearish correction for the presence of saturation on the stochastic, but as long as price is above the level of 100.76, the husband is the closest to rise in the short term and medium
\\\\The first target in the bulls think about resistance is 102.00 (figure) and while there is no further increase in technical obstacles, the daily chart of the formation of the medium markedly northern wave.\\\\