Attachments: Daily EUR/JPY analysis

Daily EUR/JPY analysis

#281
May 29, 2007 10:44pm May 29, 2007 10:44pm

goodthings
Joined Aug 2006 | Status: Trader | 1,852 Posts

From Fxcm

[01:49 EUR/JPY: Rebounds Strongly As Shanghai Losses Pared] Tokyo, May 30. From
a low of 163.05, EUR/JPY has rebounded strongly. The catalyst looks to be moves
back up on the Shanghai Stock Exchange Composite index. The index opened down
some 5% at 4087.405. It has steadily moved back up, paring losses. The SSEC is
currently indicated at 4248, down only 86 points on the day or just under 2%.
EUR/JPY sold off hard overnight from a fresh record high of 164.29 on the stamp
tax hike on Chinese stock market transactions. The market looks to have gone a
bit short prior to the Shanghai open. EUR/JPY is currently indicated at
163.47/52. Initial resistance is eyed at 163.65-70, early Asian highs. More
resistance is eyed at 164.00 though trader stops are noted on a break above. on
the downside, support around 163.00 has been confirmed. Multiple lows have been
seen here, the most recent this morning. Technically, moves below the Ichimoku
tenkan line again look to be profitable. Though cut, EUR/JPY has traded back
above this level at 163.25 today. The kijun line is below at 162.27.
[email protected]

[IFR Forex Watch]
[SQUAWK BOX]

#282
May 29, 2007 10:45pm May 29, 2007 10:45pm

goodthings
Joined Aug 2006 | Status: Trader | 1,852 Posts

From Fxcm

[03:38 EUR/JPY: Edging Back Down As Shanghai Composite Falls Again] Tokyo, May
30. EUR/JPY is trading soggy again on renewed weakness on the Shanghai bourse.
The SSEC is currently down just over 6% on the day at 4071.268. The index has
fallen below the opening price of 4087.405. Though still well above the 163.05
low seen earlier, EUR/JPY is biased to the downside again as a result. Bids are
seen down towards 163.00 but some stops are seen building below 162.90. Mixed in
is more bidding interest, mainly from Japanese players. Topside resistance looks
to be firming towards 163.65-70, highs seen in early Asian trading. EUR/JPY
currently trades 163.23/27. -- [email protected]

[IFR Forex Watch]
[SQUAWK BOX]

#283
May 31, 2007 9:11pm May 31, 2007 9:11pm

goodthings
Joined Aug 2006 | Status: Trader | 1,852 Posts

Price action for eurjpy two trading days ago with the daily fib and the floor traders daily supports resistance and pivot. The daily pivot around the 50 fib and just touched and bounced off of the daily supports.

Attached Image

#284
May 31, 2007 9:32pm May 31, 2007 9:32pm

goodthings
Joined Aug 2006 | Status: Trader | 1,852 Posts

Yesterday's EurJpy pivot s & r and daily fib

Attached Image

#285
May 31, 2007 9:53pm May 31, 2007 9:53pm

goodthings
Joined Aug 2006 | Status: Trader | 1,852 Posts

Floor traders daily pivots s & r for today.

Attached Image

#286
Edited Jun 3, 2007 8:42am Jun 2, 2007 8:57pm | Edited Jun 3, 2007 8:42am

moneda
| Joined Apr 2007 | Status: Miembro | 918 Posts

Hello,

I would like to hear from those of you who regularly trade this pair what you like about it. Also, when is the best time to trade it? Any insights will be greatly appreciated.

Thank you.

Unus pro omnibus, omnes pro uno

#287
Jun 3, 2007 7:39am Jun 3, 2007 7:39am

ns_karthik
| Commercial User | Joined May 2006 | 1,808 Posts

EURJPY and GBPJPY are usually traded exclusively, like some start off with GBPJPY and then when its volatility drops, they switch over to EURJPY and then switch back and forth accordingly...as any other pair, this pair will have highest volatility during the european and american sessions...

sometimes this pair sleeps and refuses to budge and some days, it just zooms...coming week should be a good one for volatility for this pair and GBPJPY as well...

#288
Jun 3, 2007 8:46am Jun 3, 2007 8:46am

moneda
| Joined Apr 2007 | Status: Miembro | 918 Posts

Ns_Karthik,

Thank you for the info and link. I will check it out since I am leaning towards trading the eur/jpy

Unus pro omnibus, omnes pro uno

#289
Jun 6, 2007 5:17am Jun 6, 2007 5:17am

dirtymonkey79
| Joined Jan 2007 | Status: Trader | 86 Posts

new to this pair is now a good time to long it for the interrate this afternoon and then hold and ride it back up or do you think it staying down?

#290
Jun 6, 2007 9:52pm Jun 6, 2007 9:52pm

jest1081
Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts

comments below

Attached Image (click to enlarge)

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Name: ey.jpg
Size: 78 KB

#291
Jun 7, 2007 10:57am Jun 7, 2007 10:57am

ForexTraderMan
| Joined Jun 2007 | Status: Trader | 44 Posts

Thansk for this chart

#292
Jun 7, 2007 1:16pm Jun 7, 2007 1:16pm

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Quoting jest1081

Disliked

comments below

Ignored

Hi,

You didn't specifically say so, but the comments on your graphic suggests you suspected the massive sell-off outcome today.

I have been looking for an alternative pet pair to cable over recent weeks, mainly because of the uncertainty and out of leftfield anomolies surrounding both currencies these days. I thought I had found it here (carry trade baggage included)....
Indeed, I very nearly bought the euroyen today, based on the overall trend to date and my interpretation of a non UK rate rise, i.e. euro being a safer haven than sterling for carry traders. I'm glad I didn't - WOW - what a drop!

In your opinion, was today purely a co-incidental correction or the magnetic affect the mighty $ still seems to generate?

AND

Is this a more predictable pair with normal trending traits, albeit in bigger movements than say eur$?

Thanks.

#293
Jun 10, 2007 11:50pm Jun 10, 2007 11:50pm

jest1081
Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts

Quoting goonergonebad

Disliked

Hi,

You didn't specifically say so, but the comments on your graphic suggests you suspected the massive sell-off outcome today.

I have been looking for an alternative pet pair to cable over recent weeks, mainly because of the uncertainty and out of leftfield anomolies surrounding both currencies these days. I thought I had found it here (carry trade baggage included)....
Indeed, I very nearly bought the euroyen today, based on the overall trend to date and my interpretation of a non UK rate rise, i.e. euro being a safer haven than sterling for carry traders. I'm glad I didn't - WOW - what a drop!

In your opinion, was today purely a co-incidental correction or the magnetic affect the mighty $ still seems to generate?

AND

Is this a more predictable pair with normal trending traits, albeit in bigger movements than say eur$?

Thanks.

Ignored

Hi,

Personally , the movements a similar to the more volatile pound...and i like Euro for being nice with the trend...U have smaller stoploss and trade bigger lots with it.

On personal opinions...i really din have any, what is can visually see is that price is peakish and show obvious difficulty moving up, in essence its either consolidating or its ready to breakdown...euros and pound being too exensive is not good for business either...

Back to trading, yes the sell off was justifed right? heh

I have attached my studies...note that the hourly have failed to make a lower low and the daily already suggest a downward resistance. We are likely to see a fight between bulls and bears...go with the super longterms on this one...the trend is still up.

Attached Image (click to enlarge)

Click to Enlarge

Name: ej.jpg
Size: 73 KB

#294
Jun 11, 2007 12:43am Jun 11, 2007 12:43am

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Quoting jest1081

Disliked

Hi,

Personally , the movements a similar to the more volatile pound...and i like Euro for being nice with the trend...U have smaller stoploss and trade bigger lots with it.

On personal opinions...i really din have any, what is can visually see is that price is peakish and show obvious difficulty moving up, in essence its either consolidating or its ready to breakdown...euros and pound being too exensive is not good for business either...

Back to trading, yes the sell off was justifed right? heh

I have attached my studies...note that the hourly have failed to make a lower low and the daily already suggest a downward resistance. We are likely to see a fight between bulls and bears...go with the super longterms on this one...the trend is still up.

Ignored

Thanks

#295
Jun 11, 2007 8:48pm Jun 11, 2007 8:48pm

jest1081
Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts

I personally felt that we have reached the tipping point for ej. Looks like the supports are not likely to hold...we already have a triple upswing failure which keeps making lower swingsas price retreat into further consolidation. Long yesterday have been a good idea as i previously mentioned but the failed H&S can have many downward implications...

Attached Image (click to enlarge)

Click to Enlarge

Name: ej.jpg
Size: 68 KB

#296
Jun 11, 2007 8:53pm Jun 11, 2007 8:53pm

ns_karthik
| Commercial User | Joined May 2006 | 1,808 Posts

All the crosses are in consolidation mode right now. better to wait for a day or two to get a clear signal of the direction that it is going to take...

#297
Jun 12, 2007 8:04pm Jun 12, 2007 8:04pm

jest1081
Joined Sep 2006 | Status: Chasing Trends | 2,339 Posts

The triple top really did a good job. Since now the trend is clear and has been firmly etched...i'll be looking to sell on strength. Accumulating shorts!

Attached Image (click to enlarge)