empty
16.11.2012 12:03 PM
EUR/JPY Wave Analysis for November 16, 2012

Daily

This image is no longer relevant

After EUR/JPY has rebounded from the correctional level 38.2% - 100.73 of Fibonacci on the daily chart the pair continues its upswing in the value of the euro towards the level of correction 61.8% - 104.81. The consolidation above the level enables the growth of the rate towards the next level of correction 76.4% - 107.30. Formation of a bearish candlestick pattern allows the pair to make a turn in favor of the yen and start falling. The rebound from the correctional level 61.8% of Fibonacci enables the pair to drop towards the level of correction 38.2%. The last candlestick pattern that was formed was bullish engulfing pattern. It enables the pair to rebound from the level of 38.2% of Fibonacci and start growing.


4h

This image is no longer relevant

On the 4H chart after the bullish engulfing pattern and bullish harami pattern were formed, the quotes consolidated above the level of correction 23.6% - 103.42 of Fibonacci. As a result the rise of the rate may continue towards the next level of correction 0.0% - 104.58. A rebound from this correctional level gives a reason to consider the beginning of drop towards the yen. Formation of bearish harami pattern enables the pair to move down and consolidate under the level of correction 23.6%. In this case the drop of the rate may continue towards the level of correction 38.2% - 102.69. The rebound from the level of correction 23.6% provides a possibility for the pair to resume the upswing.

Samir Klishi,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis, Forecast, and Current Market Situation

Gold is maintaining a bearish intraday tone today.Oscillators on the daily chart are just beginning to show negative momentum, indicating the potential for further declines in the metal's price

Irina Yanina 12:50 2025-07-07 UTC+2

Forecast for EUR/USD on July 7, 2025

On Friday, the EUR/USD pair traded very weakly, with trader activity extremely low due to the U.S. Independence Day. As a result, no trading signals, important breakouts, or other chart

Samir Klishi 11:48 2025-07-07 UTC+2

GBP/USD. July 7th. Bulls Defend the 1.3611 Level

On the hourly chart, the GBP/USD pair traded sideways on Friday. Today, a new rebound from the support zone of 1.3611–1.3633 could give traders hope for a reversal in favor

Samir Klishi 11:15 2025-07-07 UTC+2

AUD weakens against USD but there is potential for a temporary strengthening retracement, Monday, July 7, 2025.

AUD/USD – Monday, Monday, July 7, 2025. With the potential for escalation of the global tariff trade war, demand for the USD currency as a safe haven has increased, making

Arief Makmur 08:52 2025-07-07 UTC+2

USD strengthens again against Yen despite potential correction in the near future, Monday, July 7, 2025.

USD/JPY – Monday, July 7, 2025. With the release of positive US economic data and the BOJ's policy stance remaining Dovish, today USD/JPY has the potential to strengthen. Key Levels

Arief Makmur 08:52 2025-07-07 UTC+2

EUR/USD Forecast for July 7, 2025

On the weekly chart, the price has precisely reached the intersection point of the Fibonacci ray and the upper boundary of the price channel. This occurred on the first

Laurie Bailey 06:24 2025-07-07 UTC+2

GBP/USD Forecast for July 7, 2025

On Thursday and Friday, the pound traded within a narrow range between the support level of 1.3635 and the resistance of the daily MACD line. This morning, the price

Laurie Bailey 06:21 2025-07-07 UTC+2

USD/JPY Forecast for July 7, 2025

USD/JPYFollowing a 126-point surge driven by strong U.S. labor market data, which pushed the quote above the balance indicator line, the pair closed below this line on Friday. Today began

Laurie Bailey 06:15 2025-07-07 UTC+2

EUR/USD. July 4th. Bears continue to retreat from the market

On Thursday, the EUR/USD pair rebounded once again from the 1.1802 level and declined almost to the 127.2% Fibonacci retracement level at 1.1712. As of Friday morning, the pair

Samir Klishi 10:53 2025-07-04 UTC+2

Forex forecast 04/07/2025: EUR/USD, GBP/USD, USD/JPY, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:51 2025-07-04 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.