Eu/jpy pivot levels for 17.7.2013 by using fibonacci pivot indicator.
resistant 1:131.18
resistant 2:130.89
resistant 3:130.71
pivot point :130.41
support 1:130.12
support 2:129.93
support 3:129.64
Thread: Eur/Jpy
Eu/jpy pivot levels for 17.7.2013 by using fibonacci pivot indicator.
resistant 1:131.18
resistant 2:130.89
resistant 3:130.71
pivot point :130.41
support 1:130.12
support 2:129.93
support 3:129.64
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As you see in my following attached chart, the pair traded between a high of 130.79 and a low of 130.01, closed at 130.40. Today the pair trades below the resistance line of 131.25.
Downside Scenario: EURJPY could decline to the levels of 130.00 then 129.00, if the resistance line of 131.25 holds.
Upside Scenario: Upside penetration of the resistance line of 131.25 could send the pair to the levels of 132.45 then 133.25.
[COLOR="Silver"]
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time frame- H1
the price has been break the strong resistance at the 130.70 level with a strong bull candle but it is rejected from the 131.30 level and making a pin bar candlestick pattern. this will be a signal for the down trend. if the price is close below the 130.60 we can short with the take profit at 130.45 and stop loss at the 131.50
good luck.
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today i like to sell this pair @ 131.10
my stop loss of the day @ 131.27
half take profit for today @ 130.88
and further half take profit @ 130.63
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As expected as I post in my last post that 130.56 is crucial which has capped the pair And Now I expect 130.28 will protect the downside to break above 131.10 And then we should see a rise towards the test of 133.81 And short term I would expect that could be the high But it would very difficult to explain where pair is heading from there
regards
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Last week, the euro continued to drop against the dollar, and lost long term uptrend support, falling to its lowest level since early April, following the European Central Bank (ECB) officials hint that interest rates will remain low for a period of over 12 months. In the meantime, the Eurogroup released some bailout aid to Greece deciding to give only a portion of the scheduled 8.1 billion, due to the Greeks failure to meet bailout terms. The euro did enjoy developments on the other side of the Atlantic: the FOMC meeting minutes and Bernankes dovish comments sent the dollar tumbling down hundreds of pips and EUR/USD challenged 1.32 before consolidating on lower ground. Many questions remain. Lets start.
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elliott irregular flat correction up 131.16 strenght can extend to 130.82 or even higher tan 131.60 as decline are expected to find support at 130.24 afall below 130.05 could turn it bearish
support and reisistances
res2 131.21
res1130.82
piovt 130.43
sup1 130.05
sup2 129.66
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Prior to the opening of the European session, the prospective sub-band of approximately 130.70 on tops and lows 130.30, so if you do not by and large to catch something ...
NEXT RESISTANCE 130.77 AT TOP AND BOTTOM 130.01...
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