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Trade Idea: EUR/JPY – Buy at 111.00

admin — Mon, 19 Jul 2010 09:00:24 +0000

Although the single currency has rebounded after finding support at 111.43, a break of last week’s high of 113.40 is needed to signal upmove from 107.30 low (wave v bottom) has resumed and bring a stronger retracement of recent decline to 113.90/00 and then next resistance at 114.16.

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EUR/JPY Bullishness Continues

admin — Tue, 13 Jul 2010 05:51:28 +0000

The euro is off to good start this month. The euro yen has a rally that has formed an upward channel. Our 4 hour chart shows that price action continues to trade above both our 200 and 100 day simple moving averages. If no news ruins this rally, my potential View full post on Technical Analysis

EUR/JPY Candlesticks and Ichimoku Analysis

admin — Fri, 02 Jul 2010 07:53:29 +0000

Although the single currency fell marginally to 107.30 earlier this week, as the single currency has rebounded, a potential ‘morning star’ pattern showed on the daily chart and if another white candlestick is formed today, this would add credence to this bullish pattern and suggest a temporary low has possibly been formed, then retracement to the Kijun-Sen (now at 110.74) would be seen.

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Trade Idea: EUR/JPY – Sell at 111.00

admin — Thu, 24 Jun 2010 09:18:07 +0000

As euro’s retreat from 113.43 has kept price under pressure, suggesting early rebound from 108.06 has possibly ended there and bearishness remains for weakness to 108.90-109.00, however, break there is needed to signal downtrend has resumed for retest of recent low at 108.06.

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EUR/JPY: Is the Correction Rally Over?

admin — Tue, 22 Jun 2010 02:54:09 +0000

The daily time-frame shows that EUR/JPY in a downtrend in 2010. The market has been in sideways action for the last month. The momentum has stalled, but bottom action and RSI readings are developing a negative reversal. The most aggressive swing projection goes to 100.60, near the 2001 low in View full post on Technical Analysis

Trade Idea: EUR/JPY – Buy at 111.40

admin — Mon, 14 Jun 2010 10:00:00 +0000

As the single currency has rallied last Friday on risk appetite after Friday’s release of stronger-than-expected U.S. data, adding credence to our view that wave v has ended at 108.06 earlier and consolidation with upside bias remains for retracement of recent decline to 113.40/50 and later towards 114.16, which is likely to hold on first testing.

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EUR/JPY – Bearish Channel Intact

admin — Fri, 11 Jun 2010 16:25:29 +0000

Today’s price action saw the EUR/JPY test our 100 day simple moving average and 50% retracement from the June 3rd high to June 6th low. Despite a brief rally for the euro, our bearish channel is still intact. The pair could still have a rally, but bearishness could continue unless View full post on Technical Analysis

The Daily Forecaster: EURJPY

admin — Wed, 09 Jun 2010 06:45:47 +0000

I continue to remain basically bearish but for the moment still see range trading potentially in the 108.60-109.80-00 range. Once complete we should see losses below 108.06-32 that should extend through 107.53, 107.20 and 106.25-54 to reach the ideal target around 104.40-60. Cautiously I feel that will be the end View full post on Technical Analysis

EUR/JPY Risk Assessment

admin — Tue, 08 Jun 2010 01:07:24 +0000

The 4H chart is showing the market pulling back from the breakout last Friday extending into Sunday. Spent some time monitoring this rally for topping, but no topping has occurred yet in the 15-min. The target is seen near 104.50 suggested by a negative reversal. The Fibonacci study shows some View full post on Technical Analysis

Trade Idea: EUR/JPY – Stand aside

admin — Mon, 07 Jun 2010 09:20:37 +0000

The single currency tumbled last Friday on risk aversion and price dropped below recent low of 108.83 to as low as 108.06 this morning, suggesting the wave v from 122.29 is still in progress and although price has rebounded from there, above 110.40/50 is needed to suggest a temporary low has possibly been formed and bring recovery to 111.00, otherwise, one more fall below said support cannot be ruled out. Break of 108.06 may extend weakness to 107.00 later.

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