Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Is it finally time to sell Nvidia ahead of earnings?
Read More
GPB/JPY And EUR/JPY Daily Outlook: October 03, 2012
By ActionForexCurrenciesOct 03, 2012 06:45AM ET
www.investing.com/analysis/gpb-jpy-and-eur-jpy-daily-outlook:-october-03,-2012-138528
GPB/JPY And EUR/JPY Daily Outlook: October 03, 2012
By ActionForex | Oct 03, 2012 06:45AM ET
GBP/JPY Daily Outlook
GBP/JPY H4" title="GBP/JPY H4" width="600" height="600">
GBP/JPY" title="GBP/JPY" width="600" height="600">
EUR/JPY Daily Outlook
Daily Pivots: (S1) 100.56; (P) 100.87; (R1) 101.29
The breach of 101.04 minor resistance suggests that pull back from 103.86 might be finished. Intraday bias is mildly on the upside for a test on 103.86 first. Break will confirm resumption of recent rally from 94.11. In case of another decline, we'd still expect strong support fro 99.52 to contain downside. However, break of 99.52 will indicate reversal and will turn focus back to 97.98 support for confirmation.
In the bigger picture, we're favoring the case that whole down trend from 169.96 (3008) has completed at 99.11 already, on bullish convergence condition in weekly MACD. Focus is now on 111.43 key resistance level. Break will confirm this bullish case and bring further medium term rise to 123.31 and above (38.2% retracement of 169.96 to 94.11 at 123.08). And, we'd favor this bullish scenario as long as 99.52 support holds. Though, considering that EUR/JPY can't take out 55 weeks EMA decisively yet, break of 99.52 will favor another low below 94.11 instead.
EUR/JPY H4" title="EUR/JPY H4" width="600" height="600">
EUR/JPY" title="EUR/JPY" width="600" height="600">
Daily Pivots: (S1) 125.74; (P) 126.10; (R1) 126.42
With 126.69 minor resistance intact, the pull back from 128.82 might extend lower. But still, downside is expected to be contained by 124.41 support and bring rebound. Above 126.69 minor resistance will flip bias back to the upside. Break of 128.82 will extend the whole rally from 118.82 to 133.48 resistance next. Though, break of 124.41 will dampen our bullish view and turn focus back to 120.82 support instead.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and might target 133.48 and above. But this is far from being certain. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds.
EUR/JPY Daily Outlook
Daily Pivots: (S1) 100.56; (P) 100.87; (R1) 101.29
The breach of 101.04 minor resistance suggests that pull back from 103.86 might be finished. Intraday bias is mildly on the upside for a test on 103.86 first. Break will confirm resumption of recent rally from 94.11. In case of another decline, we'd still expect strong support fro 99.52 to contain downside. However, break of 99.52 will indicate reversal and will turn focus back to 97.98 support for confirmation.
In the bigger picture, we're favoring the case that whole down trend from 169.96 (3008) has completed at 99.11 already, on bullish convergence condition in weekly MACD. Focus is now on 111.43 key resistance level. Break will confirm this bullish case and bring further medium term rise to 123.31 and above (38.2% retracement of 169.96 to 94.11 at 123.08). And, we'd favor this bullish scenario as long as 99.52 support holds. Though, considering that EUR/JPY can't take out 55 weeks EMA decisively yet, break of 99.52 will favor another low below 94.11 instead.
Related Articles
EUR/USD Gains Ground as European Union Fires Back
By Kenny Fisher - Feb 25, 2025
The euro has gained ground on Tuesday. In the North American session, EUR/USD is trading at 1.0515, up 0.45%. On Monday, the euro climbed as high as 1.0527, its highest level this...
EUR/USD in Range as Trump Tariffs Meet Eurozone Uncertainty - Levels...
By Günay Caymaz - Feb 25, 2025
The German election results initially boosted optimism, but uncertainty over coalition talks is keeping pressure on EUR/USD. Trump's confirmation of tariffs on Mexico and Canada...
EUR/CAD and AUD/CAD: Can the Pairs Sustain Gains as Potential Rate...
By Moheb Hanna - Feb 25, 2025
ECB and BOC Monetary Policy Divergence – EUR/CAD Exchange Rate Fluctuations. RBA and BOC Monetary Policy Divergence – AUD/CAD Exchange Rate Fluctuations. Canada and Australia...
GPB/JPY And EUR/JPY Daily Outlook: October 03, 2012
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.