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Daily EUR/JPY analysis

  • #421
  • Edited 1:36pm Jul 6, 2007 1:23pm | Edited 1:36pm
Quoting karmostaji
we might be going higher soon
Hello K!

Here are the charts I am looking at for E/J.
Direction is clear for now.
Later...I try not to guess.

Have a great weekend!

FXS

P.S. I just looked at my chart setup on all TF's 1 Min thru Monthly.
All are up! I've never seen them all confirm each other!
I still refuse to predict the future! I'm a follower only!
Of course, I'm just a newbie! Maybe later I'll be able to see into
the future... .
Attached Image (click to enlarge)
Click to Enlarge Name: ej.jpg Size: 125 KB
  • #422
  • Jul 6, 2007 6:09pm Jul 6, 2007 6:09pm
i just couldn't help myself i see the euro sitting up there at the end of the day she looked so lonesome i just had to short her 168.11
  • #423
  • Jul 7, 2007 12:17pm Jul 7, 2007 12:17pm
Quoting rozkan

Candle analyses says bears are getting stronger.

Do they? I dont see that myself, could you explain a little bit further please?
  • #424
  • Jul 8, 2007 2:36pm Jul 8, 2007 2:36pm
EUR/JPY

EUR/JPY had another strong week with recent rally extending to as high as 168.16, taking out mentioned initial target of 61.8% projection of 161.49 to 166.94 from 164.23 at 167.60. From a short term angle, further rally is expected this week towards next upside target of 100% projection of 161.49 to 166.94 from 164.23 at 169.68. Meanwhile, touching of 167.42 minor support will turn intraday outlook consolidative and first.
In the bigger picture, whole medium term rally from 130.60 is still in progress and the interpretation remains unchanged. . First wave up ended at 143.60, subsequent correction ended at 137.167. The third wave up ended at 159.63 while fourth wave correction has ended at 150.75. Rise from there represents the final advance in this structure. With 61.8% projection of 137.16 to 159.63 from 150.75 at 164.64 taken out decisively, next upside target will be 100% projection of 137.16 to 159.63 from 150.75 at 173.22.
On the downside, it will take a break of 164.23 support to indicate rise from 150.75 has completed. Otherwise, further rally is still in favor even in case of pull back
In the longer term picture, regardless of the internal structure, rally from 88.97 has now taken out key resistance level of 162.42 and 38.2% retracement of 285.56 (79 high) to 88.97 (00 low) at 164.07. Next important long term resistance will be at 188.22 (90 high) and 50% retracement of 285.56 to 88.97 at 187.27.
  • #425
  • Jul 9, 2007 1:55am Jul 9, 2007 1:55am
see some trendline support coming into play in EURJPY in the 167.70-50 area.
  • #426
  • Jul 9, 2007 3:23am Jul 9, 2007 3:23am
Quoting persian.forex
see some trendline support coming into play in EURJPY in the 167.70-50 area.
first 30 pips
  • #427
  • Jul 9, 2007 3:46am Jul 9, 2007 3:46am
Japan MoF's Fujii says Japan's economic recovery firm, led by private-sector demand.

Japan government spokesman Shiozaki says government should not comment on specific forex levels.
  • #428
  • Jul 9, 2007 4:07am Jul 9, 2007 4:07am
eurjpy sees a nice bounce off the figure as selling subsides post Fiji comments
  • #429
  • Jul 9, 2007 4:11am Jul 9, 2007 4:11am
We all see the EUR/JPY in is all time high and we just can't get out of it...

I'm short at 167.97, I'm almost sure that today it will come down, but some financial fonts are telling that it could go up in the next 3 months to 1.74, I agree with that, but in the mean time it may have some waves that we may profit... or not
  • #430
  • Jul 9, 2007 4:16am Jul 9, 2007 4:16am
I hope we will see 166 level before go up
  • #431
  • Jul 9, 2007 4:50am Jul 9, 2007 4:50am
Watch the US 10 Yr Treasury Bond Yields and the DJIA. Eventually, as Bond Yields inch up higher and higher, and the DJIA has big losses, you'll start to see a selloff in the Yen crosses.
  • #432
  • Jul 9, 2007 4:53am Jul 9, 2007 4:53am
Quoting waaustin
Watch the US 10 Yr Treasury Bond Yields and the DJIA. Eventually, as Bond Yields inch up higher and higher, and the DJIA has big losses, you'll start to see a selloff in the Yen crosses.
Gee that sucks..i was hoping the dow would go 20k and dollar would peg $2 per euro....lol
  • #433
  • Jul 11, 2007 3:00am Jul 11, 2007 3:00am
If EURCHF gets back through 1.6480, which looks like a clean trendline break on a daily, it will be looking for a resuscitator.

We are bit surprised by the lack of direction so far today in Europe today. The dollar is clearly up against the ropes but no one is stepping up so far to take the knockout shot.

Eastern European names have been on the offer so far this morning in cable with IMM types bidding.

eurjpy seeing choppy trading conditions

Talk of real money sellers of GBPJY around.
EURJPY is very resilient in the 166.50-60 zone. We have tested the area multiple times, but those attempting to play a break lower have been caught covering in the 166.70s.

  • #434
  • Jul 12, 2007 12:37am Jul 12, 2007 12:37am
Quoting HalifaxCB
You se that big dip at the end of Feb? That was on a comment from the BoJ. Seems we've got not only comments tonight as well, but Mr. Yen himself returning from the wilderness of academia to appear on TV. Could be a rough couple of days for the longs....
Looking forward to hearing what he has to say this time.
Gone to a better place
  • #435
  • Jul 12, 2007 8:25am Jul 12, 2007 8:25am
How do you guys trade a currency pair that has already hit all time high like Eur/Jpy? I entered long at 167.92 today. It's like entering unknown zone without a map.
  • #436
  • Jul 12, 2007 8:47am Jul 12, 2007 8:47am
EURJPY is rising. Now it trades on a 168.53 mark. Poissible, growing the pair will be till 1.74.
  • #437
  • Jul 12, 2007 9:30am Jul 12, 2007 9:30am
Quoting squaw
EURJPY is rising. Now it trades on a 168.53 mark. Poissible, growing the pair will be till 1.74.

its long, i think
  • #438
  • Jul 12, 2007 10:27am Jul 12, 2007 10:27am
Im still long until 168.95. Took half the lotsize out last friday at 167.70 if I remember correctly.
  • #439
  • Jul 12, 2007 10:34am Jul 12, 2007 10:34am
Quoting ukutrader
How do you guys trade a currency pair that has already hit all time high like Eur/Jpy? I entered long at 167.92 today. It's like entering unknown zone without a map.

Very easy dude Buy the dips like you did
  • #440
  • Jul 12, 2007 11:09am Jul 12, 2007 11:09am
JPY crosses moving higher here as $/JPY remains firm above 122.50
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