EUR/JPY

H4
Priceaction.
down
h1UP

The EURJPY tried to pullback a little bit today, but it goes back up, the pair may try to reach the 129.00 level, to the downside, the 125.81 level may act as support since in the past it acted as a good resistance.

H4
[email protected]=====>127.613=====>126.858
[email protected]====>127.789======>129.128

1/2 of the year ends - 3Q for EUR/JPY in my opinion is in Bears hands
few things to consider - ECB may shift monetary policy (an upmove scenario)
all charts oversold - down move scenario
technical looks up /exp for the RSI
fundamental looks good for the EUR
however markets are not always logical and i believe we can reach 1.2250 untill the end of August

have a green pips (and wish me luck)

what should be entry point, SL and TP?

128.95
129.2

Eurjpy,after mtf divergence, we have a very strong up trend. Can the price reach 129 - 129.1 area (TP2)?

TP1

Reached 129 again. Started building my short positions from 129.1. Target is 127 but personally would like to see 120 again. It is pretty nice range for this pair right? What do you guys think?

Time for a breather perhaps.

its going up not down so be careful

Exactly, you just can't pick a nice number like 120 and "think" it's going there LOL

Look and see what YEN is capable of from the fundamentals

See the big picture

I believe the EUR is over valued by the German banks mainly,there is no solid structure behind the recent Eur strength, we had a comment by Draghie on how the recovery had reached a boarding recovery status. markets over reacted and he was quick to try and talk the EUR back down.
Draghi wants a weaker Eur to help improve growth. The Germans are wanting a stronger Eur to boost exports and improve employment, so I believe the German Banks are buying and holding Eur's Possibly joined by The Swiss Banks.
I am waiting for a shocker of a report from the EUR camp to push the Eur back down below 110.00 level .

I am thinking why euro is so strong now it should go back down but now I understand. As you said. But I see some bullish divergence on weekly charts and there was a gap at 117 that euro have to be field.

It's very good analysis How do you expect the movement in the next few days

i'm interested to open a sell position on this pair. in the weekly time frame, the pair has formed an ab=cd pattern, and is already in overbought condition (based on the cci indicator). i will wait for the price to close below ema 14 to open sell position.

its going up and up while the yen is weak

well it was going up right but its forex , and here nothing goes only one way. Glad I was holding my breath and building sells up to the peak, now its time for the nosedive. The EUR is overbought and the yen oversold. Holding now until 127 at least. Cheers

I went out,came back.this thing just going against my BE for another 3 pips and went south hundred pip