I think that we should wait until the price hit the 50.0 level of fibonacci ratios at 137.66 than we can open a sell position with take profit at 135.02.
Thread: Eur/Jpy
I think that we should wait until the price hit the 50.0 level of fibonacci ratios at 137.66 than we can open a sell position with take profit at 135.02.
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Weekly forecast: EURJPY 27-31 Oct. 2014
Technical analysis for weekly forecast for EURJPY 27-31 Oct. 2014. In weekly chart EURJPY shows bullish trend. At present EURJPY above the pivot point and going towards the 1st resistance level. If 1st resistance level breaks then next strong resistance level is 140.754.
Pivot: 136.430
Resistance levels
R1 137.662
R2 138.290
R3 139.522
R4 140.754
Support levels
S1 135.802
S2 134.570
S3 133.942
S4 133.314
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there is a strong resistance level at 137.02 that's why I think that we can get in short position with take profit at 136.47.
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pair- eur/jpy
analysis time frame- m5
the price is not able to break the resistance at 137.00 level and moving down side. the parabolic sar is also giving down movement signal. if the price is break moving average support at 136.70 then short with profit target at 136.50 and stop loss at the 137.00
good luck
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On the EURJPY chart you can see a bearish trend due to the red color of the super trend and it is the main indicator to know the price movement direction.
The Nonlong dot is colored in blue and that is an indication for a buy signal.
The signals now are showing a week bearish trend also the sell trades can take place as soon as the Nonlog indicator have a changes to confirm the new direction.
When we talk to the stop loss area we can think about two ways to end first if the price reaches the resistance of 135.65 and the second when the super trend changes its color to green that means that the bearish trend has ended.
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As we can see in the EURJPY chart the main trend is currently taking a up direction and thats because of the position of the 5 and 6 EMAs which are Above the 35 EMA and as a result taking buy positions is the right choice once I get the confirmation from the other indicators that the direction will be bullish .
The parabolic sar indicator shows that the price might be taking a upward direction according to the dots below the candles The MACD indicator is giving me a buy signal which is currently moving above the 0 level also the CCI line is performing a upward signal as is at the Higher level.
As a conclusion to what I said earlier I do think that buying would be the best choice for now according to the EMA locations that of course unless the price gave a bearish signal instead.
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The EURJPY chart shows a top which is drawn by the ZigZag indicator and that indicates that pair is more likely to move downward For the current time the price movement is near the up edge of the Donchin band indicator and that means that it is hard for the price to move upward I think that it is more likely for the price to have a downward direction only in the case of closing a candle below the support of 135.25 and you can see it on the chart by the blue dots and in order to catch a strong sell trade you need for 2 SMA indicators to make a sell Cross If you face a reverse upward direction i think that the resistance line at 136.95 will be a stop level area .
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Daily forecast: EURJPY 24 Oct. 2014.
Technical analysis for Daily forecast of EURJPY 24 October, 2014. In Daily chart EURJPY shows bullish trend. At present EURJPY above the pivot point and going towards the 1st resistance level. If 1st resistance level breaks then next strong resistance level is 140.496.
Pivot: 136.366
Resistance levels
R1 137.534
R2 138.160
R3 139.328
R4 140.496
Support levels
S1 135.740
S2 134.572
S3 133.946
S4 133.320
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As you can see on the EURJPY chart the price is moving at a bearish channel. Now the price hits the top edge of donchain channel and I can say that a sell trades can be open by now targeting the low edge Stostatic by the way have a buy signal by having a bullish intersection near the 80 th level Finally a sell signal is shown on the awesome oscillator as you can see by having the bars above the 0 level and also the last bar is colored by red To make a clear decision from the previous givens the price have a higher chance to head down till the lower level of donchain channel but if you face the down edge of manually drawn channel then you have to close any sell trades and for more strength for your trades waiting for a sell signals drom awesome oscillator and stostatic is prefered
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
As you can see on the EURJPY chart the price is moving at a bearish channel. Now the price hits the top edge of donchain channel and I can say that a sell trades can be open by now targeting the low edge Stostatic by the way have a buy signal by having a bullish intersection near the 80 th level Finally a sell signal is shown on the awesome oscillator as you can see by having the bars above the 0 level and also the last bar is colored by red To make a clear decision from the previous givens the price have a higher chance to head down till the lower level of donchain channel but if you face the down edge of manually drawn channel then you have to close any sell trades and for more strength for your trades waiting for a sell signals drom awesome oscillator and stostatic is prefered
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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