Daily EUR/JPY analysis

i am still holding my position .. lets.. see.. lol fish... sumone said i m piescian ..

possible to go down very soon. Need to reload.. I think very soon drop all JPY position 400 pips or more :d
Will be very nice

why is this thread ..dead..no ones putting in their ..recommendation EJ is.. da best pair shall we all contribute good signals ... ?

Thought I might bring this thread back to life. Been trying to attach a chart but can't figure how to shrink it enough, so no chart just analysis.

It just bounced this morning from a trendline for the 5th time. It was right at 163.00. Managed to get in and follow the trend. Might be time for it to break the highs of last week. Time will tell.

I sure could be wrong on this one.

JPY is falling like a stone! EUR/JPY went from 163.10 to 162.63 in 1 hour. Or is this one of those things where the market makers are trying to shake people out?

Any one reads 162.40 area as a bottom to fish?

It is last week's low and it is providing support right now.... But I'm not used to this pair as to make up my mind quicky...

Thoughts?

1 sec. after my post, EJ went down to 162.30... never mind, I'm staying out of this pair.

i was shorted since yesterday at 6309 ( posted on aussie group thread)
I am out 1/3 at 162,49
target 161,89 for an other 1/3
will trail the last 1/3 till 160 at least

need to break 162,22 ( support)to go to my target
we are sitting on 22 right now

Hehe my first post. Watch the EU + UJ fundies for tonight should effect those, this latest move may turn out to be a nice chace to set a long or too on EJ imo. Well at least thats what I intend on doing should the EU + UJ rise

It may back to the initial trend ...

1,4,6 and now 8 hour doji bars right at a nice round number of 162.00. Looks like it may have been a good time to jump on long.

It sure may be back to trend! Straight back up to the highs.

But then again, I've been wrong many times before!

Ah forgot, it's also at 50% fibo of the most recent low, at least on my charts.

Hi
Its been wonderful to read this thread, thanks to all who are contributing.
I am new to Forex and have learnt a lot during past few days since i joined here
i am long now on eur/jpy from 162.46 TP 163.00 SL 161.80

Well, atleast it has come back into its uptrend chanel, looks like it will test 163 and bounce low again before asia comes into play today.

Yesterday low is 161.81 When we take the 4 hour chart end draw a fibo line from that low to the last swing high (163.58) on the 4 hour chart we see a 61.8% retracement line at 162.53 and 50% retracement line at 162.73. When we take look at the 5 min chart it tells us that eur/jpy has bounced three times at that 61.8 fibo line. But the pair did not made a new low. It bottomed at 162.05 and at 162.15.

Now it seems eur/jpy is moving again to 61.8% fibo line and the question is: will it hold again or will it break trough that resistance and go to the next level.

Also this was on the wires at 8.53 gmt (without dls):

Good offers are tipped in [EUR/YEN] around 162.55-60 with traders noting very good Japanese supply in both the cross, and Usd/Yen over the last 24 hours. Momentum behind the sell off appears to have waned though, and a few weak shorts from those who piggybacked the Asian flows are building up through 162.75-90. Decent buyers are also eyed 162.00-10. More recent flows have seen a UK clearer on the offer with some Chinese accounts also selling into 162.30-40. Talk of residual flows from yesterday's Euro area bond redemption persist, but others argue that the 6 mth bills would not normally factor as a destination for Japanese real money. Note the next redemption of any note is on June 1st, Italy Eur 16bln. Eur 2bln of Greek debt matures May 18-20.

I took a long position at 162.24. Put my SL at 161.99. Of course I hope the 61.8% resistance breaks. Otherwise I have to take a smaller profit or a small loss.

am still short bearish on that pair.
Resistance zone ( double bottom and pivot 162,55/162,60 )

I have a very low target something like 155 :-) in the coming days ( weeks?)

160 first

i am gonna watch very closely to Congressional hearings on currency manipulation

Can impact yen hard

hi
i'm short the pair from 162.45 ,target is arond 160.55 and the stop above the broken trendline.
any bodyyyyyyyyyyyyyyyy?

Hey Droo,

You got heavy res. at 161.83 from way back, I would have waited to get by that first because it still may bounce off of that and go back up and retest the back of the T/L.

Just my 2 cents.

Jim

Hi Guys
I am short from 162.46 Tp 161.86 SL 162.80 , lets see if it gets hit today