Eur/Jpy

[ashaab]

The pair is stable below the support for the symmetrical triangle that was breached yesterday which keeps the negative effect remains valid. We expect the downside move to continue today pressured by trading within the descending channel and the effected of the completed Head & Shoulders pattern.



Recommendation : Based on the charts and explanations above, our opinion is selling the pair around 103.05 targeting 102.00, 101.35 and stop loss with four-hour closing above 103.85 might be appropriate

[delpacing]

Resistance Level : 103.20, 103.80, 104.60
Support Level : 101.90, 101.25, 100.75
Trading Range : 101.25 � 103.20
Trend : Bearish

[simpleforex68]

I would like to analyze in long term view of the pair. In H4 chart, there is Divergence on MACD indicator. Therefore, I think the price will increase strongly to the EMA 200 and test this resistance.

[nurdiantofxwave]

Mrenstein signal indicator now:
tf m15: 78.26
tf m30: 61.25
tf h1: 61.74
tf h4: 56.22
tf d1: 21.39

Until now eur / jpy is still moving around the daily pivot point (102.65) after earlier rose from its lowest point (102.27) today. The possibility that prices will move higher after the confirmation of 16 and 96 ma cross signal is also stochastic in tf d1 are in oversold area.

[ashaab]

The pair was able to breach the support of the symmetrical triangle mentioned yesterday, which supports the downside movement to resume over intraday basis . Momentum indicators are positive which delays the suggested bearishness. Our main targets are 101.35 and 100.40, but stability below 103.25 and most importantly below 103.85 is critical for our scenario.



Recommendation : Based on the chart and explanations above, our opinion is selling the pair with around 103.25, targeting 101.35 and stop loss with 4-hour closing above 103.85 might be appropriate

[simpleforex68]

The price is in downtrend because it is below the Ichimoku Kumo Cloud and EMA 200 in H4 chart. But the Kumo Cloud is flat. This will create the attraction of price. So, I think the price will increase.

[ashaab]

The pair is trading within the symmetrical triangle formation as shown above, where this continuation pattern supports the continuity of the downside movement during the coming period, affected by the previously completed head and should pattern. Our targets are at 100.40-100.00, while stability below 103.85 and most importantly below 105.00 is necessary for expectations to prevail.



Recommendation : Based on the chart and explanations above, our opinion is selling the pair with a breach of 102.95, targeting 101.35 and 100.40 and stop loss above 103.85 might be appropriate.

[nurdiantofxwave]

1. Trend analysis today with sma system:
sma 16 as short term trend indicator = down
sma 96 as medium term trend indicator = down
sma 480 as long term trend indicator = down
So the trend is down strong.

2. Pivot,ressistance and support level this day:
p: 103.27
r1: 103.57
r2: 103.90
r3: 104.20
s1: 102.94
s2: 102.64
s3: 102.31

Mrenstein signal indicator now:
tf m15: 13.11
tf m30: 18.00
tf h1: 12.00
tf h4: 12.73
tf d1: 21.84

[ashaab]

The pair trades within a sideway range since the morning, stable above 103.00, while momentum indicators are positive, which might sent the pair to test 103.85 before the awaited decline. In result , our morning expectations remain valid , depending on stability below 104.40.



Recommendation : Based on the chart and explanations above, our opinion is selling the pair around 103.85, targeting 102.55 and 101.35 and stop loss above 105.00 might be appropriate

[simpleforex68]

Let's have a look at H4 chart of the pair. We can see the price is below the Ichimoku Kumo Cloud and EMA 200. But the Kumo Cloud is flat. Therefore, i think the price will increase slightly to the kumo cloud and then it will decrease strongly.