Eur/Jpy

[Mr.Strong]

Upward direction pair today
Expected targets 104.00 - 104.35
With the necessity of constant trading above the support level 103.10

[ashaab]

The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 102.10 and key resistance at 106.30. Based upon my chart analysis, I prefer to buying the pair around 103.70 with targets 104.65, 105.25 then 105.85 and stoploss with four hour candle closing below 102.60.

[romannil]

Eur/jpy technical analysis for 19.10.2012 by using : Auto pivot indicator.

resistance 3:104.94
resistance 2:104.55
resistance 1:104.06

pivot point :103.67

support 1:103.18
support 2:102.79
support 3:102.30

[shepon93]

Eur/jpy pair just bounced from its support 114.I think now its time for this pair to go up..it can be bought from here till 117.Thsi pair is not showing too much move.But for now its signals are signifying for this much only.

[raihan8212]

The Euro was higher against the Japanese Yen on Friday.

EUR/JPY was trading at 103.74, up 0.16% at time of writing.

The pair was likely to find support at 101.04, Monday�s low, and resistance at 104.14, Thursday�s high.

[kakpay]

Price seemed to be at the technical zone supply and buyers seem to lose the power to raise the price of this pair higher: a doji on the zone supply ...

Reduction target price on weekends can be very large or even just moving sideways. Wait n see ...

[Bieela_cute]

Elliott: elongated flat correction up 104.13
Preferred view is for a fall to 103.44 - 103.20 while 103.86 - 104.04 area resists. A clear break of 104.51 would be bullish.
Technical points
Key point 103.9400
Entry point 103.8600
Elliott 100.1500
Closing 103.5700
Projection 104.4400
Trendline 103.7000
Trendline 104.0500
Supports / Resistances
Res 2 104.5100
Ex-High 104.1400
Res 1 104.0400
Pivot 103.6700
Sup 1 103.2000
Ex-Low 103.3000
Sup 2 102.8300

[turabawan8]

EUR/JPY hovers near 5-month high

The euro rose to 5-month high versus the yen on Thursday as the Japanese currency weakened amid speculation the BoJ will ease its policy further at the October 30 meeting.

EURJPY extended gains into a sixth consecutive day and hit its highest since May 8 at 104.12. The pair however found resistance and failed to hold above the 104.00 mark, and it is currently trading at the 103.80 area, still up 0.3% on the day.

[Mr.Strong]

The pair remains for the rise to continue to maintain trading above the support level at 103.00
This climb is targeted to reach levels of 104.00 - 104.35

[mudassiransi]

Forex Technical Update
Previous: EUR/JPY and GBP/JPY Riding Their Rising Trendlines (10/3)

EUR/JPY Daily Chart 10/18/2012 7:35AM EDT



Sharp rally: The EUR/JPY is making a new high since rallying from the July low of 94.10, as it pushes above the 103.86 resistance pivot. The rally has been holding above a rising trendline, and the RSI has tagged 70, now a 3rd time, without falling under 40, and even staying above 50. This strong rally has a recent 6-day streak that is now attacking a falling trendline that goes back to April, 2011 as it approaches the 104.00 psychological handle.

Falling wedge, trendline: The weekly chart shows a falling wedge development with support extending back to August 2010, and the resistance trendline going back to 123.31 in April 2011. The falling trendline is what the market is focused on at the momentum.

Breakout: Will the trendline hold? I think there is upside room until 105.25, 38.2% retracement for the market to show respect to this falling trendline. But above that, the market opens up a previous resistance pivot lies at the 108.00 handle.

If the market holds under 105 and falls under the rising trendline from July, 94.10 low, then a bearish outlook returns.

Bearish momentum: Also note that the weekly RSI is approaching 60, during the falling wedge, it has respected 60, and reflected persistent bearish momentum. If this wedge is to hold, it should hold the weekly RSI under 60 as well.

EUR/JPY Weekly Chart 10/18/2012



Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes � provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.

Information and opinions contained in this report are for educational purposes only and do not constitute an investment advice. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness. FXTimes will not accept liability for any loss of profit or damage which may arise directly, indirectly or consequently from use of or reliance on the trading set-ups or any accompanying chart analysis.