EURJPY has successfully test support at 103.13. A movement towards recent high at 104.59 is expected. Break resistance will pave the way for further gains towards 108.00.
Thread: Eur/Jpy
EURJPY has successfully test support at 103.13. A movement towards recent high at 104.59 is expected. Break resistance will pave the way for further gains towards 108.00.
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Daily Forex Fundamentals - October 25, 2012
What's on the Economic Horizon
U.S. durable goods orders data to rebound in Sept
U.K. out of the recession?
RBNZ kept rates on hold
U.S. Dollar (USD)
Well, that was a dud, wasn't it? The FOMC statement barely made waves across the dollar pairs yesterday as the Fed didn't make any changes to monetary policy. EUR/USD tested the 1.3000 area briefly before closing at 1.2961 while USD/JPY stayed stuck below the 80.00 handle. Read more...
Euro (EUR)
Still no love for the euro! With yesterday's disappointing economic reports giving traders plenty of reason to dump the euro, the shared currency found itself on the sell side of the equation once again. It lost 19 pips to the dollar, 16 pips to the yen, and 52 pips to the pound. Read more...
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The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 102.60 and key resistance at 106.30. Based upon my chart analysis, I prefer to buying the pair above 103.70 with targets 104.10, 104.65 then 105.25 and stoploss with four hour candle closing below 102.85.
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The EURJPY on still look consolidation. Till now, we see the price movement still move slow near that 38.2 fib (103.23). just wait and see and ignore this pair, it's better choice, of course
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Simple Analysis EUR / JPY, Thursday, October 25, 2012
In time frame 1 H, AO and MACD are on buy area, but AO had changed red. WMA 50 and 100, still shows a trend down, CCI and MACD cross on the buy area. This indicates that the pair EUR / JPY is still going to continue the trend down, the first destination is the price of 103.44 (pivot), the second destination is the price of 103.06 (support 1). Good luck .....
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EURJPY had been rejected by the support level at 103.18 yesterday. Now, I think the rejection effect still occur. In my view EURJPY may goes up to the resistance level at 104.08 or higher today. But if EURJPY can break the yesterday's low, this pair will fall to the support level at 102.19.
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EUR/JPY back to positif area after fell down in previous day when european market session. price move up strong and now trying to break daily ressistance 1 level (103.89). But signal stochastic in tf h4 and h1 shown at overbought area that indicates price will down but weak before continue rise.
Eur/jpy technical analysis for 25.10.2012 by using : Auto pivot indicator.
resistance 3:104.79
resistance 2:104.32
resistance 1:103.93
pivot point :103.46
support 1:103.08
support 2:102.60
support 3:102.22
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Elliott: flat correction down 103.14
It should try higher up to 103.68 - 103.91. Entry point 103.45 or 103.26. After this rise, a correction is expected.
Warning: Low Zone
Technical points
Key point 103.6600
Entry point 103.3800
Elliott 104.6000
Closing 103.5400
Projection 103.1400
Trendline 103.8300
Trendline 103.0600
Supports / Resistances
Res 2 104.2900
Ex-High 103.8300
Res 1 103.9100
Pivot 103.4500
Sup 1 103.0700
Ex-Low 102.9900
Sup 2 102.6100
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EUR/JPY faced some resistance ahead of mentioned 61.8% retracement of 111.43 to 94.11 at 104.81 and intraday bias is turned neutral first. Some consolidations would be seen and below 103.12 minor support will bring even deeper retreat. But after all, near term outlook will stay bullish as long as 100.14 support holds and we'd expect another rally ahead.
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