Again today go for downtrend movement for EURJPY. Currently it fall till 106.12 but this is good support and it is important barrier to hold the bear come down again. If this support is strong then it could pullback till fibo 50 @106.62.
Thread: Eur/Jpy
Again today go for downtrend movement for EURJPY. Currently it fall till 106.12 but this is good support and it is important barrier to hold the bear come down again. If this support is strong then it could pullback till fibo 50 @106.62.
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A temporary top should be in place at 107.13 and intraday bias is turned neutral for the moment. Some consolidations could be seen. Below 105.71 will bring deeper retreat to 4 hours 55 EMA (now at 105.06). Nonetheless, rise from 100.32 is expected to resume sooner or later. Break of 107.13 will target 100% projection of 94.11 to 104.58 from 100.32 at 110.79 next, which is close to 111.43 key resistance.
In the bigger picture, we're favoring the case that whole down trend from 169.96 (2008 high) has completed at 94.11 already, on bullish convergence condition in weekly MACD. The strong break above 55 weeks EMA affirmed this view. Break of 111.43 resistance will confirm this bullish case and bring further medium term rise to 123.31 (38.2% retracement of 169.96 to 94.11 at 123.08) and above. And, we'd favor this bullish scenario as long as 100.32 support holds.
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INTRADAY TRADING SIGNAL
EURJPY H1
Looks like EURJPY will proceed to north at least, up to 107.02 from the current level. My reason is simply because the price has broke up the upper line of a triangle (chart pattern) on a 60-minutes chart.
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EURJPY on still move to it's bearish . Then, with my simple look . we can search again for sell here if the 23.6 fibo (105.93) was truly can be break down by seller. And on other way, as long as the price here still move above that 23.6 fib . this still called sideways
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Support: 105.51
Pivot: 106.55
Resistance: 107.60
trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel buy
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold
Technical Analysis for EURJPY 80% Buy
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Spoiler:
On the H1 chart price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
Recommendation: BUY
Target: 107.35
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Eur/jpy technical analysis for 27.11.2012 by using : Auto pivot indicator.
resistance 3:108.13
resistance 2:107.64
resistance 1:107.06
pivot point :106.57
support 1:105.99
support 2:105.51
support 3:104.93
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If we look the current candle on H4 time frame, we can see that EURJPY is being rejected by the 106.55 resistance level. So, if the rejection success, EURJPY may continue falling (the correction movement) and will try to reach the support level at around 105.75 today.
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EUR/JPY Support and Resistance 26/11/2012
S3 105.80 S2 106.06 S1 106.33
R1 107.62 R2 107.89 R3 108.16
indicators:
MACD(26,12,9):Neutral
CCI(14) :buy
MOMENTUM(10) :buy
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EURJPY up through 107.00 today. Support continued to be at 105.50 followed by 104.00. Resistance will be strong around around 108.00. We can buy a new position if the price towards 106.60 / 70.
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