{"id":28129,"date":"2012-03-12T08:03:11","date_gmt":"2012-03-12T12:03:11","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=28129"},"modified":"2012-03-12T08:03:11","modified_gmt":"2012-03-12T12:03:11","slug":"eurjpy-weekly-outlook-12-march-16-march","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/12\/eurjpy-weekly-outlook-12-march-16-march\/","title":{"rendered":"EUR\/JPY Weekly outlook 12 March – 16 March"},"content":{"rendered":"

EUR\/JPY Weekly outlook \u2013 12 March \u2013 16 March<\/strong><\/p>\n


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Despite an initial fall for the pair early in the last trading week, the Yen\u2019s weakness was once again confirmed with the latter part of the week seeing the bull\u2019s taking control of the market pushing the pair higher. The weekly chart\u2019s candle closed as a bullish pin suggesting traders may see a continuation of recent bullish momentum.<\/p>\n

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The chart below shows last week\u2019s strong bullish pin. The pin bounced almost perfectly off a similar pin seen back in the summer of 2010 which resulted in a strong move higher. The next level of resistance comes in at the 111.50 area which could be a wise profit taking area for any long trades.<\/p>\n

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\"eurjpyweeklyoutlook12-16marchweekly\"<\/a><\/p>\n

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Friday\u2019s price action produced a strong 4hr set up which is inline with the overall bullish bias for the pair. 3 inside bars were produced during the\u00a0US\u00a0session on Friday. Importantly, the inside bars were \u2018coiled\u2019 (meaning they are inside the range of each other sequentially) which confirms and strengthens a bullish move. The last 2 candles also were bullish pin bars which once again confirm a move higher could be expected.<\/p>\n

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The 4hr price action from Friday afternoon, showed a clear rejection of support sitting at the 107.80 area.<\/p>\n

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\"eurjpyweeklyoutlook12-16march4hr\"<\/a><\/p>\n

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With the strong bullish price action being seen on both the weekly and 4hr charts we\u2019ll be looking to buy the pair in anticipation of a continuation of recent bullish momentum.<\/p>\n

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Taking a trade from the weekly charts, we\u2019ll look to buy on limit at 107 which is a 61.8% fib retracement from the weekly pin. Our stops will be placed at last week\u2019s lows with an initial target being the next level of significant resistance which comes in at 111.50<\/p>\n

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Article by vantage-fx.com<\/strong><\/a><\/p>\n

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EUR\/JPY Weekly outlook \u2013 12 March \u2013 16 March Despite an initial fall for the pair early in the last trading week, the Yen\u2019s weakness was once again confirmed with the latter part of the week seeing the bull\u2019s taking control of the market pushing the pair higher. The weekly chart\u2019s candle closed as a … <\/p>\n

Continue reading “EUR\/JPY Weekly outlook 12 March – 16 March”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28129","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28129"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28129\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}