Supply channel getting “worked” on this pair as EU Bulls peel off profits & assess the state of play.
The lower boundary (160.0) will focus the aggressive spec att’n here, as the strength of the stops begins to tell.
159.20-40 the 1st test for bids, followed by 158.20-50.
Those players holding longs thru 154.50-155.0 won’t begin stirring until their stops @ 156.80 thru 157.20 come into view.
Right now I’m making a play below the 160 level. Long short? On the H4 there’s room to move to the downside. S @ 159.26 and 158.80. Are you in agreement Jocelyn? Do you differ?
Lemon O.
Steve
Thanks very much for your reply, Tess.
S
European Interest Rate Decision on Friday and most believe they will keep it at 1.25%. It’s building support and I think that EURJPY is going to make a push at 125.00 Thursday and Friday.
I’m gonna be watching this pair during, and after, tomorrow morning’s Sentix report and if it trends up I’m going to get in big on a couple long positions.
The EUR/JPY already formed a positive day reversal but only a daily closing tonight above 106,00 will confirm a s/t bottom supporting a recover.
The indicators of the daily chart closed in positive territory, while those of the s/t ones are mixed this morning supporting further consolidation/ correction. While above 105,25 we expect another test of the 106,00 level with a possible overshooting allowing an extension of the correction toward the resistance line at 106,40 while the real attraction is the 200 hours line at 107,00.
I suggest remaining long this cross for a possible 106,40 overshooting
The EUR/JPY confirmed on Friday a strong daily closing above the top of the previous session suggesting some more upside potential especially in case of a daily closing tonight above 106,40.
The indicators of the daily chart are still positive but those of the weekly one are still below the line also because the weekly closing was weak!! The indicators of the s/t charts are at the moment mixed. The move up we had on Friday, that gave us the chance to sell our position at 106,40 as suggested, formed also a negative reversal situation in the hourly chart. However, while above 105,80 we expect another test on the upside with the 200 hours line at 106,82 the attraction with even a possible 107 overshooting!!
We stay on the sideline for now
I believe forex news - easy
The EUR/JPY confirmed a further session of consolidation confirming the previous day’s closing. It shows good support at 103,60 but also very good resistance above the 104,20 area that is limiting the upside.
The EUR/JPY confirmed a negative weekly closing while remaining however interior the range of the previous week. We have therefore 106,05 – 102,65 the levels to follow in the coming hours/ sessions. The indicators of the daily chart are still in negative territory as well as those of the weekly one supporting further weakness. Those of the s/t ones are this morning below the line still showing some pressure on this cross. Only an hourly closing above 104,45 will postpone the weakness favouring higher levels suggesting a test of the 105,50 area.
We stay on the sideline while waiting for stronger signals!!
Tint,
As much as I appreciate the information that you provide I do believe it is being provided in a way that it detracts from the origonal posters thoughts. I would like to see you create your own threads with your analysis of the pairs. You are also bumping a post that by nature may not live for to long. please take this as contructive critisism because I can see what you have to say as providing some great information if displayed more usefully.
Read more: 301 Moved Permanently
Good Day Traders have you taken a look at the VIX lately at the moment it is at 27.5% 6 months high for the year Please beware of having any open trades this week end as the Greece election will take place this week end, What are your feeling on the EUR/JPY ?Is it going to break the 100.00 ?There are also a retail sales announcement coming out of the USA today.Have a good trading .
Been following the EURJPY for a while. I’ve been seeing this sucker drop for a few days now…especially about 30 minutes ago…it just kept tanking…
I guess it has something to do with the issues in Greece?
It looks like it stabilized now though…
Here is Eur/Jpy 4hr chart. Just closed candle showed clear rejection from a dynamic resistance zone and formed a PinBar. this make confirm that price could 'nt hold the present support area and the continuation of the downtrend that started from 29 June.
Close look on the chart:
We set a short trigger just close the candle. we dont see any good support before 95.50 area. My technical target set at 95.80 area.
