The eurjpy closed the week around 102.50, which is a pull back from the Friday's high. The price is going up higher after the pull back which brought it down to 99.69 area. Testing 103.80 will be the next objective
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The eurjpy closed the week around 102.50, which is a pull back from the Friday's high. The price is going up higher after the pull back which brought it down to 99.69 area. Testing 103.80 will be the next objective
Past trading week was noted by a strong rise in the euro, the pair eur / jpy is the formation of the northern trend, yet technically for growth no significant obstacles, the couple could easily go to at least 103.70.
Reinforces of price on friday ago finally had stopped at level 102.73 so that it formed peak zig-zag as it looks in chart tf m15. After toush that level, price retraced down back to opening market level until now, if price still in downward movement it can touch psichologist level at 102.00.
Eur/jpy technical analysis for 08.10.2012 by using : Auto pivot indicator.
resistance 3:103.93
resistance 2:103.38
resistance 1:102.96
pivot point :102.41
support 3:101.99
support 2:101.44
support 1:101.02
Today Eur/Jpy Pivot Point 08/10/12
R3 103.90
R2 103.35
R1 102.96
Pivot Point 102.41
S1 102.02
S2 101.47
S3 101.08
Spoiler:
On the H1 chart, the price is between 12 EMA and 72 EMA indicates trend is consolidation
50 RSI is above 50 indicates area trend is still up
Range: 102.92-101.53
Options: LONG
Take profit: 102.92
After the pair continued to rise during the previous periods, succeeded price reached 102.25 level to have this start achieving Alahdavalmtoukah, 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
Unexpected start of the week showed a pair eur / jpy, and she began to fall until the next level of support (from which you can consider buying) is about 99.84, and is still catching correction and sell again.
The Bulls were not quite so strong, the couple did not even have the strength to walk to the 103.65 resistance as she collapsed heavily to the south, now I'm talking about buying do not even think I wait a good point to sell, the couple can go and still lower to 99.70.
As was to be expected after the sharp fall in the pair entered a correctional phase, the time schedule loomed resistance level of 101.50 which is likely to resume the fall, the north is not considered.