The EUR/JPY remains in correction. Despite the volatility in the prices of 153 points, it was possible to safely open position. High level rose to a maximum at around 141.75, while the Low level could be seen near the low of around 140.23. During the day, the price falls back down, going into a correction and continuing it.
With EUR/JPY is preparing for correction. Price still continues to trade above the moving average EMA (50 and 100) and the Ichimoku cloud, suggesting the advantage of the bull market. MACD oscillators average positive, continuing growth, indicate the further purchase. Pulses OsMA settled near zero indicates little activity in the market.
Significant levels:
Buy: 143.49; 144.46;
Sell : 142.42; 141.16.
Since the USD/JPY pair confidently trading above $ 1.6750, its prospects look good and are expected to continue the upward trend in the direction of the key resistance level at 1.7040.
Cancellation can follow a positive scenario.
Initially, the price fluctuations were very large, then they fade, becoming less and less. In the last 7 months of hesitation shrunk to a narrow range in the range 79-81,5. Variability was only about 3 percent. Analysts of Forex Broker Forex Trend (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/) believe that the U.S. dollar index may hold in this range 3-4 months. In general, as noted previously by experts, there is the beginning of an uptrend from 2008 to the U.S. dollar.
While it is very strongly inhibited the development of an active policy of stimulating the U.S. Federal Reserve and lower interest rates. However, as the rolling program of quantitative easing (QE) and progress in the U.S. economy strengthening trend of the U.S. dollar resumes.
Cancel a positive scenario may take place in case of reverse fall below 1.6750, while a break below the 50-day SMA to confirm the waning first 100-day SMA, and then to the level of support around 1.6465, the overcoming of which, in turn, focus back on testing 1.6200. Objectives pursued: the correction due to the weak market activity. Experts today, April 21, 2014, the purchase is not considered.
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