EUR / JPY October 5th, 2015

EUR / JPY closed up to the price of 134.22 on Friday, rose 10 pips from the opening price of 134.22. Although the price had dropped to 133.98, but was able to ascend to the highest at 134.87 price that may result from the NFP news. Technically on the daily timeframe has not been able to see price hit a Fibonacci level 0 or 100 means fibo can still be reused for today. The state of the moving average indicator still indicates a trend down while the stochastic oscillator is also experiencing the intersection to go up to the overbought area which indicates the market will soon rise.

EURJPY Daily

While the timeframe H4 seen also that the state of the red moving average (MA 4) cut green moving average (MA 50), where it indicates the price rise. 134.46 price level has happened to break out and made fibo to gauge the direction of the market with a target price on the Fib 130, 161 and 261.

EURJPY H4

For even smaller timeframe, ie on H1 timeframe or hourly seen prices rise since last Friday. The moving average indicator 4 (red) and moving average 13 (blue) has undergone a moving average crossover green from the bottom to the top which indicates prices rise.

EURJPY H1

Archive Analysis by: Moch Iksan