By: Doug Rosen
The EUR/JPY begins the new week slightly above the 5 ema. The 13 ema is not too far above and I expect price to rise to the 13 then continue downward.
On the daily time frame price has just made its way above the 5, 13 and 21 ema's and the 5 is crossing above the 13, however, the upper Bollinger band is closing in and pointing down and I expect the next ema above which is the 55 will push price back down.
On the 4 hour time frame price is heading towards the 233 ema which is overlapped with the upper Bollinger band as well as the monthly central pivot point and this area will more than likely be where price will begin to dip again. This area is in the zone between 105.00 and 105.40
On the hourly time frame the upper Bollinger band is closed and pointing straight down. The ema's are bunched up a bit and the volatility for this pair is low today as it is with most of the other pairs.
