EUR/JPY Is Bullish - Profit Booking At Higher Level

SUMMARY:

The major trend of EUR/JPY is optimistic, when showing some profit booking at higher level the combine is currently consolidating with a positive bias. In its hourly chart the combine is taking resistance of falling trend line,given gaolbreak & sustaining on top of the amount, the combine will show side movement when crossing of the resistance level at 147 ,we can expect it to check the amount of 147.50 by the top of the session 

Today's Chart: EUR/JPY ( HOURLY )

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2365	1.2403	1.2470	1.2508	1.2575	1.2613	1.2680
GBP/USD	1.5559	1.5593	1.5613	1.5647	1.5667	1.5701	1.5721
USD/JPY	115.76	116.05	116.46	116.75	117.16	117.45	117.86
USD/CHF	0.9467	0.9520	0.9551	0.9604	0.9635	0.9688	0.9719
AUD/USD	0.8612	0.8646	0.8683	0.8717	0.8754	0.8788	0.8825
EUR/GBP	0.7904	0.7928	0.7974	0.7998	0.8044	0.8068	0.8114
USD/CAD	1.1191	1.1223	1.1259	1.1291	1.1327	1.1359	1.1395
NZD/USD	0.7826	0.7866	0.7894	0.7934	0.7962	0.8002	0.80

   
STRATERGY :-

EUR/JPY is consolidating with positive bias & expected to point out positive movement. The combine is trying optimistic on charts. One will choose purchase on dips strategy for this combine for intra day to middle term positions.

TODAY’S ECONOMIC EVENTS 

Date WED NOV 19th 2014	Time (GMT)	Currency	Economic Data	Forecast	Previous
	3:24am	JPY	Monetary Policy Statement
	Tentative	JPY	BOJ Press Conference
	9:30am	GBP	MPC Official Bank Rate Votes	2-0-7	2-0-7
		GBP	MPC Asset Purchase Facility Votes	0-0-9	0-0-9
	1:30pm	USD	Building Permits	1.04M	1.02M
		USD	Housing Starts	1.03M	1.02M
	3:30pm	USD	Crude Oil Inventories	-0.7M	-1.7M
	7:00pm	USD	FOMC Meeting Minutes
	9:45pm	NZD	PPI Input q/q	0.3%	-1.0%
	11:50pm	JPY	Trade Balance	-1.02T	-1.07T

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