EUR / JPY 21-25 December 2015

EUR / JPY during the past week was dominated by the direction of the market with a strong price correction. Pairs is down to 140 pips from the opening price of 133.09 and closed at 132.69 with the highest price level at 133.77 and the lowest price levels 131.03.

Level 0 and 100 in the Fibonacci retracement week period 30 November to 4 December 2015 has not been able to be uprooted at weekly candle period 14 to 18 December 2015 fibo indicates they can be used for this week. Based on the analysis of weekly periods is said that the price level as a correction lies in the Fibo level 50, 61 and 76 has been pierced. Point correction should have been exhausted masses and the direction the market further towards Fibonacci level 0. However, if that does not happen then the critical level for correction at the 100 level; plus 50 pips from that level, the reversal may occur and the trend will be down.

Fibonacci measured by candle dated December 3, 2015 at the daily timeframe chart still has not touched on level 0 and 100. The blue indicator moving average (MA 13) and red (MA 4) has been intersected to go down, but only the red moving average that can be cut green moving average (MA 50); while stochastic oscillator today is still near the oversold area. Market pairs five days to come will be trying to go up, but also should be wary of fundamental data to support these pairs. It can be seen from the following fundamental news that the euro zone do not seem too support on Thursday and Friday.