Daily EUR/JPY analysis

A little bit confused with this paired but is more probable to go down to 126.50. We have all 3 MA on its way to 126. Let' s see how things develops.

price broke the channel

132.50 in sight on daily chart

my scenario for today

It isn't able to stay over 134.00. It's trading at 133.53, around the overbought area.
I will keep an eye on the 133.55 resistance
http://files.ac-markets.com/Newslett...May09_1626.bmp

the Daily chart looks so Terrible

http://img5.imageshack.us/img5/253/pictyk.jpg

Don't you think that the price now broke above the 200 SMA on daily chart and ready to go for the next target 50% fibo , what do you think ??!!

My work is showing a similar set of targets over the next few weeks, but
a couple things still puzzle me. First, if EUR/JPY is the product of Dollar Yen
and the Euro quoted in USD, then where does a 120 EuroYen (or thereabouts) land these 2 pairs individually ?

and Second, since the Yen usually does the driving on these crosses, how will/would prices in the low 120's
vis a vis the Euroyen cross play out for the highly prominent double bottom on the Dollar Yen @ 87.10 ?

Either it's not a bottom at all, and the bears last year calling 80 Yen or lower
(some called 60 yen to the US buck) are finally getting something to hang their hat on....

OR

The Euro currency is about to have a rude awakening. Not a popular notion lately
since so many have been getting long recently, but change can come suddenly, just like death.
We really never know for sure what's gonna happen or where the next earthquake will hit.

So, may I ask your opinion ? How do you see these two pairs squeezing out a target for E/J
that would have to put a hurting on atleast one (if not both) of these pairs ?
Afterall, it's about a 1,000 pips from current levels so something significant would have to happen
to atleast one of the pairs.

What's your take ?

another point of view of mine , the jpy is getting strength for the past month , as we can see the eur still trading very well below 137 level also the usd started to fall during the last week , on the other hand we can see a very strong eur/usd that allowed the eur/jpy to be steady and do some gains, a small look to last week chart on the eur/usd shows us that it reached a critical upper limit and very good position for short players to enter the market specially that DOW and S&P and FTSE100 started to show -ve signs ,if the eur usd started to fall i think eur/jpy will follow this move and of course usd/jpy is ready for such move, this might be right or wrong but after all it is just what my little mind see in this huge market

So the question for the moment is.... how long will dollar weakness persist?

* Stocks were seen losing momentum after rebounding for over two months.
* Yen crosses failure to take out recent highs were also indication that investors were hesitating to add further positions into riskier assets.

what i can see is that the USD is getting weaker , the point now is the eur , is it getting stronger or it is just a crazy move and then it will follow the flow again

Hello I'm a newbie here and I'm interested in trading and discussing EUR/JPY. I see this thread doesn't have a lot of posts. Anyone interested?

I'm in if there are others.

if you're interested in EJ, head on over to the "if love eur/jpy and you know it, clap your hands" thread.

Entered long at 137.45 on break of the april 6th high and expected a bigger move up but got only a few quick pips. As the high could not hold and PA fell back into the establishing channel I changed to bearish and shorted at 136.99.

Now it retraces a bit on a weaker TL and 38.2 fib of the last wave up. Lets see if it can break through and we can have another nice 4 waves down as in the past. In best case I see a bottom at 130.30 and the comeback of the bulls.

Appreciate any comments.

eurjpy

ready for massive fall from H&S formation?
ya think?
maybe?
dunno?
neither do I....but I'm accumulating shorts with a tight(ish) SL.

this pair has stalled at 136 , and has stalled at 138..... i 'predict' it will go down from 138 to at least 136 again.

yes it's bouncing off the top of a channel now.