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EUR/JPY : Towards a return below 100?


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#1 ⇑ Haut ⇑ 09-11-2012 11:04:00

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EUR/JPY : Towards a return below 100?

The pair EUR/JPY is currently testing the support at 101 and is moving into a short term bearish channel (blue lines in h1).

We advise to trade only short positions as far as 102 is resistance. The breakout of 101 will give a new sell signal and will allow the price to test the psychological level at 100.

In case of return above 102, we will then advise to wait the breakout of 103 to trade long positions.

Traders with a more agressive strategy could trade the pair according to 102 (long above and short below).


EUR/JPY 1h Chart

http://www.tribuforex.fr/analyses/FOREX/eurjpy-09112012.png

EUR/JPY 4h Chart

http://www.tribuforex.fr/analyses/FOREX/eurjpy-09112012-2.png


Last analysis on EUR/JPY : EUR/JPY : Medium term bullish slant





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    EUR/JPY : Towards a return below 100?



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