• From my earlier analysis - EURJPY Forecast 31st, March 2014, I noted potential levels to look for, price has accelerated very quickly during london, and has past our first resistance area., Which now could come to our next resistance where a bearish cypher and trendline comes in

• Although the Daily, Hourly charts MA has not crossed , on the H1 , price is trading below the 50ma
• Also 15min has crossed, and 30min is very close to being crossed
• With the Daily Candle Shooting star from a Good Resistance and with a sharp drop in price in the H4, shows good indication of a bearish trend for the week

• Positive Divergence in Stochastics while MACD stays above positive territory

• Trading below the Ichimoku Clouds, however nearing to test its resistance
• Trendline , and Important Fib levels also around the clouds
• Stochastics on H4 is overbought
• My bias is to short this and continue the bearish leg (AB =CD)

• GBPAUD Hammer (2)
• CADCHF Shooting Star (4)
• EURCAD Hammer (3)
• EURNZD Hammer (3)
• AUDCHF Shooting Star (2)
• AUDUSD Shooting Star (3)

• Long Trade (In overall bullish trend) - Expect bounce from Daily S1 + 50%+ 127.2
• Short trade (Against overall trend, but in trend of 15min - Expect rejection from Daily Pivot and 38.20%

• Have we topped and Bearish Cypher in play?

• From Fridays Candle it seems perhaps we have found the top or at least a breather with few resistance in play
• Upper chanel
• 127.2 fib ext
• 78.6 Cypher completion (around 2-3pips away from pin point)
• Previous Support which now is resistance

• Would be looking for price to break and close support of 0.9218 to confirm change of trend .

MOVING AVERAGE Charts

Daily Trading Above 200MA (but other MA's are messy) Daily Trend - Unknown

H4 MA are in line in a bullish trend (50,100,200 all in sync) H4 Trend - Bullish

H1 MA are in Bullish Trend (50,100,200 all in sync) However price is flirting the 50MA H1 Trend - Bullish

15min MA - perhaps start of bearish trend as the 50 and 100 crossed (200ma yet to) 15Min Trend - Bearish Perhaps?

• Confluence levels of fibs highlighted on chart
• Also a previous support and resistance from yesterday
• Close to a 200ma

• Ichimoku clouds are near the monthly pivot and 61.8 / break out level
• Flat tekan and kijun line even though a bearish run 

• Bullish Bat -
• Reversal zone has excellent overlapping 61.8 and 88.5 fib as well as monthly pivot

• Shooting Star Candle on the Daily
• Stochastics crossing

• Stochastics and RSI divergence
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• Stochastics are in a very bullish momentum even though its over bought
• Descending trendline with two touches
• Broken Ascending Trendline which acted as resistance on two touches

• Potential three drive up, which completes at potential reversal zone (Cypher Pattern)
• Zone is also at 88.6 / 127.2 and Weekly R2 Pivot confluence

• Stochastics is having a positive divergence, however due the the market condition of the Nikkei index, I am biased to the downside

• Broken ascending trendline
• Negative stochastic divergence
• Ichimoku Clouds is nearing which could do as resistance
• I also see a cypher pattern complete right now on the hourly / 4hr

• After the news from the FED it performed a bearish day last Wednesday, However market performed a bullish pin bar on the following day, and the bullish momentum did carry on till Friday
• Also the Major crosses to the USD, the Aussie was the most resilient.
• Most importantly we have had already couple of days which we are closing at this strong resistance (Monthly Pivot R1, and this weeks Weekly Pivot), This shows to me that there is still strength to the upside
• I believe there is one more leg up towards the 0.92-0.925
• There is a ascending channel which we are in
• Note that there is this harmonic pattern (cypher) which completes around 0.93

• Chart is taken around noon Asian session (monday) - you will see the 4hr pin bar (news affected sell off but rebounded)
• The Ichimoku clouds on the 4hr, is not far away, and could provide resistance to push the market to trade above 0.91

• Broken ascending chanel

• Potential price to stall at the highlighted level / light blue level (1.375 approx)

• Overlapping Fib, + potential harmonic pattern completion

• US Dollar index is also close to my resistance

• We are trading into resistance, and with Price action performing minor pin bars, I was not too convinced to take a short due to the recent bullish momentum
• And the fact that price has been sitting around this area, is not appealing to me for a short