Hot-Charts
EURJPY Headed Lower
by
May 21, 2009 16:22
| 28 Comments
![EURJPY May 21 EURJPY Headed Lower - EURJPY May 21 (Chart 1)](/content/images/v1/hot-chart/eurjpy may 21.jpg)
EURJPY daily performance can be summarized as the inability to break a gradually declining trend, especially highlighted by the lower highs since April. Note that the last peak of May 10th coincided with the peak in the S&P500 and other major indices, which was followed by a 700-point slide in the ensuing 7 session. The Tuesday and Wednesday failure to regain the 131.80 resistance (61.8% retracement of 134.75-126.92) is now translating to deeper lows, which in the 3-hr chart call for 129.30-00. Subsequent target stands at 127.20, with rebounds capped at 132.00. Prolonged yen strength has more weight than euro weakness on the pair.
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Ashraf
is the correction move in the market will over today
is eur /jpy will move in flat next week
thanks
Ashraf
Thank you for your answer...If I may do you usually just trade of support and resistance levels? meaning...do you use technical indicators....Because I tend to pretty much just look at support and resistance myself and I never have indicators on my charts.... don't know if I should at least check something else out...any advice would be great!
thanks in advance
tarek, look at today's HOTCHART of EURUSD. support at 1.3980. eurjpy 134 is possible.
Ashraf
is this a signal that dollar will be stronger soon
in eur /jpy will we see 134 ,133
eur usd will correct to 1.40
thanks
Do you expect AUD/USD and NZD/USD to shoot back up....or is this move due for a bigger correction?
Ashraf
where do you expect this aud , nzd will correct
when we know that the dollar will finis h this downtrend
thanks
Ashraf