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EUR JPY Technical Analysis 26.01 - 02.02

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Ronnie Mansolillo
Ronnie Mansolillo 2014.01.25 23:09 
Week 5 - H6 Chart

Trend: Bearish

Support : 139,063

Resistance: 140,625

Trend Inversion:142,7029 (AMA Indicator)


Sergey Golubev
Sergey Golubev 2014.01.26 14:21  

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Press review

newdigital, 2014.01.26 14:21

EUR/JPY Weekly Fundamental Analysis January 27 – 31, 2014 Forecast (based on article)

The EUR/JPY ended up lower for the week as the yen once again became a safe haven after traders abandoned equities are lackluster earnings data. The pair closed at 139.88 easing from the weekly high of 142.41 after the Bank of Japan held rates and stimulus at their monthly meeting. “There’s definitely some nervousness. The world is suffering from the emerging markets’ flu,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. Worries over China’s growth surfaced after a disappointing manufacturing number spurred the S&P 500′s 0.9 percent drop on Thursday.

China’s efforts to contain a “financial excesses” won’t be positive for growth, Gibbs said. The next major psychological level for Aussie is the 2010 low near 80 cents, he said.

The China Banking Regulatory Commission’s order did not mention concerns that a 3 billion yuan (US$496 million) trust product distributed by Industrial & Commercial Bank of China may default after a coal miner that borrowed the funds collapsed, said the people, who asked not to be identified. Regional CBRC offices were told to also closely monitor risks from trust and wealth management products, they said.

The German IFO business climate for industry and trade will likely increase further in January as suggested by both the PMI composite and the ZEW economic sentiment. We expect the IFO business climate index to increase for the third consecutive month, to 110.2 after 109.5 in December. Our expectation is based on a continuous improvement in business expectations in the manufacturing industry since April 2013. Traders expect both the current conditions index and the expectations index to have increased (from 111.6 to 111.9 and from 107.4 to 108.1 respectively). Similarly, the European Commission’s Economic Sentiment Indices should post a further broad-based improvement in January as the recovery gathers momentum in several countries, including Germany or Spain.

Sergey Golubev
Sergey Golubev 2014.01.26 14:35  

Just about EURJPY using Ichimoku

It was breakdown on H4 timeframe (Chinkou Span line crossed historical price from above to below) and the price was stopped near 139.75 support.

D1 timeframe - price crossed 140.31 support from above to below on open bar and trying to break Sinkou Span line to be turned from bullish to bearish market condition. If price will crossed 140.31 support and Sinkou Span A line so we may see ranging market condition within primary bearish.

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