EUR/JPY Daily Technical

[king2k9]

EURJPY closed above the open .Fed Chairman Bernanke Testifies.The Hourly Oscillators are bullish but weak , so Cautious approach is needed.Hourly Trend is Sideways and Daily Trend is Sideways Up , so expect the price to be choppy . The patterns are not clear and very choppy but 13815 is a critical level to watch.

[evergreen22]

EURJPY
Although hesitation was seen today turning the cross back down from its last week high at 138.71, its recovery activated at the 127.98 level remains alive as long as it trades above its rising trendline currently at 136.42. Below there will put the said upmove on hold and turn EURJPY lower towards the 132.08 level, its July 22�09 and then the 131.42 level, its Jun 23�09 low followed by the 130.00 level, its psycho level. Its daily RSI remains supportive of this view as it is trending lower. Upside objectives are located at the 138.71 level with a decisive clearance of there putting the cross on the part to higher prices towards its YTD high at 139.99 where an invalidation will clear the way for more upside pressure targeting the 141.73 level, its early Oct�08 high. On the whole, backing off higher prices, its overall medium term trend still remains higher.

[evergreen22]

EURJPY Forecast
The EURJPY continued it’s bearish momentum yesterday. The pair hit my short target at 136.00 even lower, bottomed at 135.24 and closed at 135.80.we can see that the trendline support has been violated to the downside indicating bullish failure and potential bearish scenario. The bias remains bearish in nearest term targeting 134.50. However, CCI in oversold area and heading don on h4 chart so watch out for potential upside rebound testing 136.50 area. Break above that area should lead us into no trading zone. After violated the trendline support to the downside, I will not surprised if the price make a pullback to the upside around the trendline area but long position is not recommended at this phase.

[grashid]

Although the single currency rebounded strongly from 126.95 to 134.54, the sharp retreat from there to 128.78 suggests further choppy consolidation would take place and as long as 128.78 holds, mild upside bias is seen for another bounce to 132.34 (61.8% Fibonacci retracement of 134.54 to 128.78) but break of 134.54 resistance is needed to add credence to our recent preferred count that the wave 2 from 139.26 was a triple threes. This abc-x-abc-x-abc is labeled as: first set of a-b-c ended at 127.00, then x wave at 138.72, followed by second set of a-b-c at 129.02, then another x wave at 138.49 with the third set of a-b-c marked as: a-131.01, b-135.75 and the c leg as well as entire wave 2 ended at 126.95.
Our preferred count remains that the upmove from 112.08 is wave 1 of C has ended at 139.26 with minor wave iii ended at 137.42, followed by triangle wave iv at 126.98, then the move from there to 127.00 is wave 2 with the latest break-down indicated above and consolidation with upside bias remains for another test of 134.54 and possibly to 135.00. Looking ahead, only breach of 135.76-136.00 resistance area would add credence to this count and signal wave 2 has indeed ended at 126.95, then headway to 137.00 and later test of resistance at 138.49 would follow.[actionforex]

"P&F EURJPY240 Box Size 160X4 or(4.68%) HI/LO
Data 161.65 - 112.072 ~ 16 Month ~ 470.33 Day
Database 2000 records 130.378 (Last Close)
2008-08-28 12~00
2009-12-11 20~00 (GMT+01:00) Paris
BJF Trading Group chart"

161.60|~16O||____________________________|0.03%|44 .19%
160.00|~32O||o___________________________|1.02%|42 .77%
158.40|~48O||o___________________________|2.01%|41 .34%
156.80|~64O||oX__________________________|3%|39.91 %
155.20|~8OO||oXo_________________________|3.99%|38 .48%
153.60|~96O||oXo_________________________|4.98%|37 .05%
152.00|~112O|oXo_________________________|5.97%|35 .63%
150.40|~128O|oXo_________________________|6.96%|34 .2%
148.80|~144O|oXo_________________________|7.95%|32 .77%
147.20|~16OO|o_o_________________________|8.94%|31 .34%
145.60|~176O|__o_________________________|9.93%|29 .92%
144.00|~192O|__o_________________________|10.92%|2 8.49%
142.40|~2O8O|__o_________________________|11.91%|2 7.06%
140.80|~224O|__oX________________________|12.9%|25 .63%
139.20|~24OO|==oXo================X======|13.89%|2 4.21%
137.60|~256O|__oXo________________XoX_X__|14.88%|2 2.78%
136.00|~272O|__oXo____________X___XoXoXo_|15.87%|2 1.35%
134.40|~288O|__oXo__________X_XoX_XoXoXoX|16.86%|1 9.92%
132.80|~3O4O|__o_o__________XoXoXoXoXoXoX|17.85%|1 8.5%
131.20|~32OO|____o__________XoXoXoXoXoXoX|18.84%|1 7.07%
129.60|~336O|____oX_X_____X_XoXoXoXoXo_oX|19.83%|1 5.64%
128.00|~352O|====oXoXo====XoXoXoXo=o===o=|20.82%|1 4.21%
126.40|~368O|____oXoXo____XoXo_oX________|21.81%|1 2.78%
124.80|~384O|____oXoXoX_X_XoX__o_________|22.8%|11 .36%
123.20|~4OOO|____oXo_oXoXoXoX____________|23.79%|9 .93%
121.60|~416O|____oX__oXoXoXoX____________|24.78%|8 .5%
120.00|~432O|____oX__oXoXoXoX____________|25.77%|7 .07%
118.40|~448O|____oX__o_oXoXoX____________|26.76%|5 .65%
116.80|~464O|____oX____o_o_oX____________|27.75%|4 .22%
115.20|~48OO|____o_________oX____________|28.73%|2 .79%
113.60|~496O|______________o_____________|29.72%|1 .36%
112.00|~512O|____________________________|30.71%|-0.06%
Column|~528O|9615194474555811567647765564|
Count|~544O||__5_6_________O3____________|


[IMG]iticsoftware.com/postimages/2009-Jun-19/BJF-Trading-Group-EURJPY_4h30min_91211_%281%29.PNG[/IMG]

conclusion plz?

[siamang_gagap]

Date: 2009/12/28
Time: 13:49 (GMT +1)
Ticker: EURJPY
Last: 131.88
Pivot: 131.5
1st sup. 131.5
2nd sup. 131.2
3rd sup. 130.9
1st res. 132
2nd res. 132.45
3rd res. 132.8

Title: EUR/JPY intraday: the bias remains bullish.
Summary: Update on supports and resistances.
Story: Pivot: 131.5

Our preference: Long positions above 131.5 with targets @ 132 & 132.45 in extension.

Alternative scenario: Below 131.5 look for further downside with 131.2 & 130.9 as targets.

Comment: the pair remains well directed and is approaching its resistance.

Key levels
132.8
132.45
132
131.88 last
131.5
131.2
130.9

[blissreel]

Well buy at 131.50 target 70pips

[blissreel]

The cross is now following through to the downside on the back of its Thursday weakness and looks to head even further lower after invalidating the 131.24 level in early trading today. That leaves the next downside target at its Dec 16’09 high at 130.76 followed by the 129.19 level, its Dec 22’09 low with a break of the latter level accelerating further downside towards the 127.29 level, its Dec 18’09. Its daily RSI is bearish and trending lower suggesting further downside.
However, for the cross to reverse its present downside pressure, it must break and hold above the 134.36 level with a decisive breach of there allowing for further upside towards the 134.53 level where its Dec 04’09 high is located. A trade above there will resume its rise off its Nov 26’09 low at 126.83 towards its Dec 04’09 high at 135.71 and possibly higher targeting the 138.47 level where its Oct 26’09 high is sited

[blissreel]

Comment: Dropping below the 'neckline' of a small 'head-and-shoulders' formation and below the bottom of the daily Ichimoku 'cloud'. Next step, take out the 26-day average and then the bottom of the weekly 'cloud' at 129.60.

Strategy: Attempt small shorts at 131.20/131.50; stop above 133.65. Short term target 130.00/129.60

Direction of Trade: →

Chart Levels:
Support Resistance
132.34 " 131.5
131.64 132.39
131.27 133.11
130.85 133.65*
130 134.37*

[blissreel]

Comment: Dropping below the 'neckline' of a small 'head-and-shoulders' formation and below the bottom of the daily Ichimoku 'cloud'. Next step, take out the 26-day average and then the bottom of the weekly 'cloud' at 129.60.

Strategy: Attempt small shorts at 131.20/131.50; stop above 133.65. Short term target 130.00/129.60

Direction of Trade: →

Chart Levels:
Support Resistance
132.34 " 131.5
131.64 132.39
131.27 133.11
130.85 133.65*
130 134.37*

[blissreel]

Although the single currency has remained under pressure and the wave (ii) decline from 134.37 should extend weakness towards 129.38 (1.5 times projection of 134.37131.52 measuring from 133.65), reckon 129.04 (1.618 times projection) would contain this wave (ii) and bring strong rebound later in wave (iii).

Our preferred count remains that the wave 2 from 139.26 which unfolded as a complex correction triple threes has ended at 126.95 with first set of a-b-c ended at 127.00, then x wave at 138.72, followed by second set of a-b-c at 129.02, then another x wave at 138.49 with the third set of a-b-c marked as: a-131.01, b-135.75 and the c leg as well as entire wave 2 ended at 126.95. As euro jumped again from 127.32, signal the wave ii correction from 134.54 has ended there and break of said resistance would indicate the wave iii from 126.95 has commenced for headway to 136.00.

In view of this, we are trading both sides of the market, sell on recovery for the last leg of wave (ii) or buy on such fall . Only above 132.40 would dampen this near term bearish view and signal correction in (ii) has possibly ended, then gain to 133.00 and possibly 133.65 would follow, break there would confirm.

[naztreo]

Hi All,

I would like to share some prediction which might assist everyone who interested.
As of now EJ is moving around 106.88....
looking an buy opportunity once it breaks resistance level at 107.4x
predicted to reach 108.00

tq

[yuventius bhasyudewo se]

EURJPY make sideway or flat trend movement after pair successfully broke two confirmation levels criteria, and made new high at 100.88 as the highest after break out and this level seem too strong for pair because second touched can not hit this point more just only below this so I think better put buy limit order below this upper barrier level

[yuventius bhasyudewo se]

pair make moving up slightly after success make new trend so I think this bullish trend can became continuing up trend so pair will make small correction and start to prepare bullish again, I think better put pending order to put buy limit near lower barrier level at 101.27

[yuventius bhasyudewo se]

level 103.28 became new high for pair and I think this level can be retouched one more to ensure that this level so strong reversal point or failed so if pair success make second hit then make double top pattern it ensure that became reversal trend so better put sell limit around this high

[yuventius bhasyudewo se]

pair still try to retouch new high level around 102.79 but looks so very difficult and just only touched below this new high and if pair successfully break below trend level and below lower barrier level at 101.27 it became strong bearish so better to put sell limit above new high level