Daily EUR/JPY analysis

Longer term look for the whole month.

Latest bounce off 61.8% fib = bullish?

Hi, I'm a relatively new trader that has been observing from the sidelines for quite a while. It looks like there's a bullish outlook on my daily analysis, and am posting it here to let others see and comment on my analysis.

Any great insights pertaining to my application of Fibonacci retracement and trendlines?

Euro fell to a minimum of two weeks against the yen in Asia on Monday, against the backdrop of the continuing weakness of Chinese shares, a drop in the index of investment in Japan have prompted investors to sell sensitive to currency risk.
The European currency fell to 133.62 yen - its lowest level since 30 July, from 134.53 yen in New York on Friday. The dollar also fell to 94.46 yen from 94.83 yen.
Dealers have recently drawn attention to changes in rates of Chinese shares, with the starting point index Shanghai Composite, has fallen by more than 3% on Monday.
"Market participants are sensitive to Chinese stocks, because investors in many markets are now less stringent with respect to the economy, and they believe that it is not correct to assume so much risk," - said Yuichiro Hereda, senior dealer at Mizuho Corporate Bank more Weak Japanese stocks, partly because data on GDP for 2 months earlier, also experienced a drop in rates, dealers said.
Japan's GDP grew for the first time in 5 quarters by 0.9% from January to March. These have coincided with forecasts of economists + 1.0%, but dealers said traders reacted more to the long-term decline in investment that occurred 5 months in succession. "The expansion in the full GDP was a good factor, but the investment has proved weaker than expected. Traders reacted to this part of the data, because it implies that Japan's economic recovery may stall in the future," - said Hereda.
The dollar and the euro will probably continue to fall this week because investors are expected to reduce its propensity for risk-sensitive assets, said Yuji Saito, of Societe Generale. He said that the dollar may fall to 93.00 in the week.
This week the market will attract attention on the U.S. housing market on Tuesday, if they prove to be below projections, the dollar and the euro may continue to fall.

As the Minister of Economy of Japan Yoshimaza Hayashi, a decline in economic activity in the country in this fiscal year (which ends in March) may be weaker than the government previously forecast. But he also stressed caution about the risk factors for the economy, it faces - reducing employment, falling prices and disappointing outlook for the world economy. Real economic growth in the 2009 fiscal year «is able to surpass» current government forecasts the economy to reduce the level 3.3%. «But there are risks and we must remember them», - he said at a press conference after the publication of Japan's GDP for April-June. Data Cabinet show that during April-June, the country's economy grew for the first time in the last 5 quarters - growth of 0,9% compared with the previous quarter.

Yen increased to a maximum value of more than two weeks against the euro after Japan's economic growth did not coincide with the projections as U.S. regulators closed a five-credit organizations, increasing the demand for yen as a currency of refuge.
Japan's currency rose the most against the Norwegian krone and the Australian dollar, as the MSCI World Index of shares fell sharply by 1.6%, encouraging investors to reduce the assets in the securities. Pound showed its biggest drop in almost 11 weeks against the dollar after the data that British sellers of homes reduced to a minimum of eight months of the stated price.
"We certainly see that the currency markets following the shares," - said Paul Bednarkzik, strategist in London from 4Cast Ltd .. "When the stock falling down, people are buying yen, with the idea that Japanese money come home more quickly."
GDP grew by 3.7% y / y in the 2 quarter, after falling 11.7% in quarter 1. Analysts expected growth to 3.9%.

Royal Bank of Scotland is of a negative prognosis on cross Euro / Pound until the pair traded below the level of resistance stg0.7440. The Bank believes that as a result of the euro / pound probet boundaries of the current trading range stg0.7490-stg0.7390 and fall to the levels originally stg0.7365 and stg0.7305. A more radical goal of the week RBS sets to mark stg0.7250. Also recommend a bank to sell the euro against the yen and Swiss franc, as the thought that, before the Fed meeting, investors poumeryat their appetites for risk. Meanwhile, experts expect the bank to improve sentiment in the event that the Fed lower rates by 50 bp At the end of the week.

Support being tested

current short from 3435 that last spike up to 3440 stop at be+5
tp open for now.

got my ass kicked this morning selling off the low - but managed to recoup towards end of the day. Would like to see asia and london take us back to those lows around 3250

got stopped out last night at be.

today managed to scalp a few trades

current long from 3380 after that last spike down. time 12:30 PM EST
stop at BE + 5 and letting it go to 3420

134.85 resistance

http://img37.imagefra.me/img/img37/2...xm_6894e1b.png

i think that this pair has made a little pullback to 135.43 now it will continue down to 130.97

the fall in the usd/jpy is doing wonders for this pair. I have been short and expect it to go down lower. major long term support has been broken.

I'm wary of shorting this at the moment. It's on pretty good support.

Hy guys.
I have here a chart that look it will go up after it will bounce of the support line, and the EUR/JPY will start the up trend again.
What do you thing about it

131.39 short x1

131.00 should crack if the bear momentum to continue, unless she move to 131.02 (create double bottom) on 15 minute chart and reverse by then i'll have fewtrades and took the gain but now she is at 131.50

what about if she move towards 138.oo? well i have to see the chart formation or reversal sign to add short position then, the plan would be limit short @ 131.80 x 1, 132.00 x 2, 132.50 x 2, 134.00 x?, 136.00 x?, 138.50 x 124 and margin call , not that rigid!

It's all depend on chart formations, support and resistance and time frame (chart) before i add any short position!

Shorting eur/yen only allowed below 132.00 and long aud/jpy only allowed at or above 77.00 at this point of time

Hi traders this is FX RBS. I am going to show yu a bullish trade on EJ taking place right now. I include 4h and 2h chart. On the 4h chart we can see a Bullish Gartley forming with 61.8/61.8 convergence. I'm confirming the Bull move with a Bullish butterfly on 2h TF taking place at exacly the same level as the Bulish Gartley. Other confirmation for the reversal is 2h MACD divergence /not shown on the charts/ and also M2 daily converging with the entry. I hope you enjoy my Technical analisys. If you need help learning how to trade price patterns please dont hasitate to contact me on skype: FX_RBS.

entry is 131.16 stop is 130.91. targets 133.95, 134.68, 135.57. after the market reaches your first limit, make sure to move the other 2 stops to break even, in case the market reverses on you/very important/!!!

Hi Fx Rbs!

Do you see this pair up in 134.xxish? I noticed on daily that the support line was broken and the pair thinks where it's gonna go. Are you excluding the option that the pair will move down? I was thinking it might go down to test the neck on 127 or so. What is your opinion about it?

Thank you.