Eur/Jpy

[misqeq]

EUR/JPY is trying to draw support from 4 hours 55 EMA for the moment and intraday bias is turned neutral. Note again that 94.11 should be a short term bottom and consolidation from there should continue in near term. Above 97.32 will bring stronger recovery to falling trend line resistance (now at 98.31).

In the bigger picture, the down trend from 2008 high of 169.96 is still in progress and could extend further lower to 90 psychological level. However, as we're favoring the case that pattern from 139.21 is a falling wedge with bullish convergence condition in weekly MACD. Fall from 111.43 should be the last leg in such pattern. Hence, we'll expect strong support above 88.96 to contain downside, form a major bottom and bring reversal. So, focus will be on reversal signal.

[d3d3]

Today's Support and Resistance Levels:

S1: 95.67 R1: 96.30
S2: 95.50 R2: 96.62
S3: 95.33 R3: 97.32


Technical Overview:
The preferred scenario is that we have seen blue wave ii at 95.50 and should expect blue wave iii take off towards the 100.63 - 100.73 area soon. The short term risk is that a deeper correction in blue wave ii is needed towards 95.33 before we can expect the next rally in blue wave iii. As long as minor resistance at 96.62 have not been broken to the upside this risk remains, but a break above 96.62 will indicate that blue wave iii is well under way.

Trading Recommendation:
You should be long EUR against JPY from 95.85 with a stop at 94.05. Lift the stop to 95.45 upon a break above 97.32. If you are not long EUR already buy EUR upon a break above 96.62 (buy at 96.70) with a 95.45 stop.

Published: 2012-08-01 07:52:02 UTC+00 4 hours, 1 min. ago

[Rozumovski]

Looks like a couple begins to break through the first mini-resistance 96.20, and gradually move north again ... there is some growth in the euro / dollar, and here I think can beat the traffic to target 97.20 ...

[d3d3]

BID PRICE 96.04
SIMPLE MA 5 96.1 SELL
SIMPLE MA 10 96.14 SELL
SIMPLE MA 20 96.08 SELL
SIMPLE MA 50 96.06 SELL
SIMPLE MA 100 95.93 BUY
EXPONENTIAL MA 5 96.09 SELL
EXPONENTIAL MA 10 96.1 SELL
EXPONENTIAL MA 20 96.08 SELL
EXPONENTIAL MA 50 96.03 BUY
EXPONENTIAL MA 100 95.91 BUY
RSI 14 48.09 NEUTRAL
STOCHASTIC 5,3,3 16.95 OVERSOLD
PARABOLIC SAR 0.02/0.2 96.27 SELL
MACD 12,26,9 0.03 BUY
WILLIAM %R 14 -60.53 NEUTRAL

Support & Resistance
R3 R2 R1 P S1 S2 S3
96.87 96.57 96.34 96.04 95.81 95.51 95.28

EURJPY NEUTRAL
Last Update : 2012-08-01 06:00:06

[goldenmember]

EURJPY has made record lows, but it is coming against the resistance of Mays low and also the low made in January. I think that this is significant resistance, and there will not be much action happening in bullish direction unless there is some amazing news on Thursday out of the conference.

[copinedekatia]

the most likely scenario

the pair can move up to test the 1st resistance on 96.25

alternative scenario

the pair can move down to test the 1st support on 95.90

[hmkowsar]

i think now its time for this pair to go it can be bought from here till ,this pair is not showing too much too move.

[misqeq]

Intraday bias in EUR/JPY remains is mildly on the downside for a retest on 94.11 support. Though, note again that 94.11 should be a short term bottom on bullish convergence condition in 4 hours MACD. Thus, more sideway trading is expected above there in near term, with prospect of another recovery. Above 97.32 will target falling trend line resistance (now at 98.41).

In the bigger picture, the down trend from 2008 high of 169.96 is still in progress and could extend further lower to 90 psychological level. However, as we're favoring the case that pattern from 139.21 is a falling wedge with bullish convergence condition in weekly MACD. Fall from 111.43 should be the last leg in such pattern. Hence, we'll expect strong support above 88.96 to contain downside, form a major bottom and bring reversal. So, focus will be on reversal signal.

[expert]

The EURJPY still on look bulls). But, yes, this bulls still look weak after on yesterday = here was formed a bearish candle (on candle). With this formation = price now probably to become a sideways first and no take any new trade here = better = just wait and see = better.

[Miki]

pair on the hourly time frame now strayed from the top of the cloud, much that the course made ​​3 attempts to go beyond the clouds, but it was not allowed to do until the goal I have is about the level of 95.70.