Euro-Japanese Yen (EUR/JPY), initially moved to 100.33 and found very strong support there i.e. just above the support zone mentioned by us during the last week (quoted above).
Nov 19, 2012 | ForexAbode
EUR/JPY's rally continue last week as expected and surged to as high as 103.02. The strong break of upper channel resistance showed acceleration. Initial bias remains on the upside and current rise should now target 61.8% retracement of 111.43 to 94.11 at 104.81 next. On the downside, below 10.98 minor support will turn bias neutral and bring consolidations.
Sep 16, 2012 | ActionForex
EUR/JPY jumped to as high as 100.43 before retreating mildly. Initial bias remains on the upside this week and current rally should extend to 38.2% retracement of 111.43 to 94.11 at 110.72 first. Break will target 101.62 key resistance next. On the downside, below 99.59 minor support will turn bias neutral and bring consolidations. But retreat should be contained above 97.
Sep 10, 2012 | ActionForex
EUR/JPY stayed in sideway trading below 99.18 temporary top last week as consolidation continued. Initial bias remains neutral this week. As noted before, EUR/JPY is staying comfortably inside a near term rising channel and thus, further rally is still expected. Above 99.18 will target 38.2% retracement of 111.43 to 94.11 at 110.72 next. On the downside, break of the channel support (now at 97.
Sep 03, 2012 | ActionForex
EUR/JPY's rebound from 94.11 resumed by taking out 97.81 and reached as high as 98.40. Initial bias remains on the upside this week. The current rebound should at least be a correction to fall from 111.43. Break of the upper trendline resistance (now at 98.40) will indicate acceleration and would send EUR/JPY further higher towards 38.2% retracement of 111.43 to 94.11 at 110.72 next.
Aug 18, 2012 | ActionForex
EUR/JPY edged higher to 97.81 last week lacked follow through buying and retreated since then. With 94.92 minor support intact, rebound from 94.11 is still in mild favor to continue higher. Above 97.81 will target 100 psychological level and above. However, note that break of 94.92 minor support will firstly indicate completion of rebound form 94.11.
Aug 12, 2012 | ActionForex
After some setback to 94.92, EUR/JPY's rebound from 94.11 resumed by taking out 97.32 resistance. Initial bias remains on the upside this week for trend line resistance (now at 98.00) first. On the downside, break of 94.92 is needed to indicate completion of such rebound. Otherwise, near term outlook will stay cautiously bullish for further rally.
Aug 05, 2012 | ActionForex
EUR/JPY formed a short term bottom at 94.11 last week and rebounded strongly since then. With daily MACD crossed above signal line, more consolidations could be seen above 94.11 in near term. Stronger recovery might be seen to falling trend line resistance (now at 98. On the downside though, below 95.64 will flip bias back to the downside for retesting 94.11 low instead.
Jul 30, 2012 | ActionForex
The pair EUR/JPY has rebounded on the lower band of its medium term bearish channel (purple lines) and is currently validating a return above 97. This return should allow the price to reach the midline of its channel. We stay neutral between 97 and 98. The breakout of 98 will give a buy signal. A return below 97 will give a sell signal.
Jul 20, 2012 | Forextribe
EUR/JPY's fall continued to as low as 96.42 last week. Downside momentum is a bit unconvincing with 4 hours MACD staying above signal line and spiraling up. But with 98.13 minor resistance intact, we'd hold on to the bearish view. That is, corrective rise from 95.64 is completed at 101.62 already and deeper fall should be see to retest 95.62 first.
Jul 14, 2012 | ActionForex
EUR/JPY failed to take out 101.62 resistance last week but reversed and dropped sharply to as low as 97.63. The development indicates that corrective rise from 95.64 has completed at 101.62 already. Initial bias remains on the downside this week for a test on 95.64 first. Break will confirm resumption of whole fall from 111.43. However, above 99.
Jul 08, 2012 | ActionForex
EUR/JPY dipped to 98.32 last week but quickly rebounded. The strong momentum firstly indicated that rebound from 95.64 is not over yet. Secondly, such rise might indeed be correction whole decline from 111.43. Initial bias remains on the upside this week for 101.62 first. Break will target 50% retracement of 111.43 to 95.64 at 103.53. On the downside, break of 98.
By Roger Baettig | Jul 01, 2012 | ActionForex