FXGLORY
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Technical analysis of EUR/JPY dated 08.03.2013
EUR/JPY from the price level of 94.123 was in an ascending trend and could ascend without price reformation during this trend that shows the certainty of buyers in reaching to the pre-determined target price (this was mentioned in technical analysis of 16.08.2012). Right now the price descends from the top price of 127.661 and has recorded the bottom price of 118.735 that it can be a possibility for ascending of the price. The price in weekly, daily, 4H and 1H time frame is above 5-day moving average that shows an ascending trend and increase of price.According to the point that in long term time frames such as weekly and daily there is not a clear reason for descending of price, the possibility of ascending in this currency pair is tangible, so the next target of buyers is the resistance level of 127.661. at least formation of a top price and fixing of it in daily or 4H is necessary for continuing this descending trend.
FxGlory
2013.03.08
EUR/JPY from the price level of 94.123 was in an ascending trend and could ascend without price reformation during this trend that shows the certainty of buyers in reaching to the pre-determined target price (this was mentioned in technical analysis of 16.08.2012). Right now the price descends from the top price of 127.661 and has recorded the bottom price of 118.735 that it can be a possibility for ascending of the price. The price in weekly, daily, 4H and 1H time frame is above 5-day moving average that shows an ascending trend and increase of price.According to the point that in long term time frames such as weekly and daily there is not a clear reason for descending of price, the possibility of ascending in this currency pair is tangible, so the next target of buyers is the resistance level of 127.661. at least formation of a top price and fixing of it in daily or 4H is necessary for continuing this descending trend.
FxGlory
2013.03.08