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Spoiler:
from the pictures I show on h1 chart, EJ showed downtrend (weak) as a result of the movement up last night. recommendation to order the day is
Sell: 101.68
buy: 102.08
but my prediction for this currency pair uerjpy still may go to rise again as the daily is still showing strong uptrend
Current price 115.00 .
Position For Order ;
Position 1 : Instant position
Position 2 : Buy limit 114.00
Position 3 : Sell limit 115.00
Counting the pair continued to rise during the previous periods, succeeded price reached 102.25 level to have this start to achieve the expected goals, influenced by price downward correction router, we expect further increases after this wave.
Steadfastness price above the level of 101.25 supports our vision to reach the 103.00 level through the medium nearby.
Stochastic provides us with negative signals after arriving to a saturation level of purchase.
Expected trading range for the day between 101.35 and 102.85
General tendency for the price: UP
Eur/jpy technical analysis for 05.10.2012 by using : Auto pivot indicator.
resistance 3:103.48
resistance 2:102.86
resistance 1:102.51
pivot point :101.89
support 1:101.54
support 2:100.92
support 3:100.57
Just continues to show excellent growth pair eur / jpy, price continues to rise on increasing volume, my main goal is near-week high of 103.73 resistance, from there I will think of the sale and expect the beginning of the correction.
On the H4 chart, price is above the 12 EMA and 72 EMA indicates the trend is still up
50 RSI is above 50 indicates area trend is still up
Options: BUY
Take profit: 103.65
Strengthening the price that goes up to now can bring the price to get to the weekly point of resistance 102.34. This point will also be a obstacle for the price to come back stronger. If it works through it, then the price will form its highest point over the past week.
http://img39.imageshack.us/img39/8499/imagej.gif
Re EUR / JPY testing 101.87 support level but is not able to break and then rose strongly supported by a moving average for 55 at the bottom of the price in addition to supporting a positive stochastic which made the price up to levels of 102.77
Expected a slight decline to test 102.19 support level due to the presence of negative stochastic
Likely to climb to stay closer as long as price is above the levels SMA 55
steam and today managed to make up the next week, the rate is almost effortlessly managed to break through the resistance of 102.25 which opened the way to 103.70, while the need to wait for the correction to buy.
Weekly special movement is showed by EUR/JPY because this pair can rise up after retraced from its lowerest price in level 100.05. prediction in next week still same from previous week, that is price will go up again but if we look chart h4, price almost closed and hold in psichologist area so it may not rise up with strong statement.