According to the table pivots, this week the pair EUR/JPY has moved the next levels. The weekly pivot of 102.63 is the key level. If the pair makes a setback to this level, probably there will be a bounce upward. You must buy at this level and place stop loss below the EMA 200 (blue). On the other hand, the pair may continue its upward sequence up to the level of 104.93, strong resistance at monthly charts, so you could sell at this level and place stop loss above 105.36 resistance monthly (M_R1). Our strategy for this pair is bullish above 102.00.
102.63 and 102.57 are weekly and monthly pivot points for this week for EUR/JPY.
Signals for November 19 - 24, 2012
Sell if pullback is at 104.93 (W_R1) with take profit at 102.63, stop loss is above 105.36 (M_R1).
Buy if it rebounds around 102.63 (W_PV) with take profit at 104.93, stop loss is bellow 102.00.
____WEEKLY_____
Weekly - R3 = 108.58
Weekly - R2 = 106.28
Weekly - R1 = 104.93
Weekly Pivot = 102.63
Weekly - S1 = 101.28
Weekly - S2 = 98.98
Weekly - S3 = 97.63
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____MONTHLY____
Monthly - R3 = 110.17
Monthly - R2 = 107.37
Monthly - R1 = 105.37
Monthly Pivot = 102.57
Monthly - S1 = 100.57
Monthly - S2 = 97.77
Monthly - S3 = 95.77
