Technical analysis of the EUR/JPY parity on July 29th, 2010

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#1 29-07-2010 10:45:01

Bruno: Administrateur; Registered: 07-12-2008; Posts: 4541; Reputation : 0

Technical analysis of the EUR/JPY parity on July 29th, 2010

Commentary of the EUR/JPY parity :

The parity found resistance on the lower band of its former bullish channel. The price made a pullback on the highest of July and is testing a rebound. We maintain to trade only long positions as far as the price is above 113.50. A return above 114 will comfirm the take up of the bullish movement. The breakout of 114.75 will give a new buy signal.

http://www.tribuforex.fr/analyses/FOREX/eurjpy-29072010.png

See the previous analysis of the EUR/JPY parity of July 28th, 2010

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FOREX stands for Foreign Exchange - which means currency market. The Forex market is where currencies are sold, bought, in the form of parity. On the Forex market, all currencies are traded in real time, 24h/24h, 7J/7J. The Forex is open since few years to individuals, single investors wishing to diversify their investments or pure speculators. The access to foreign exchange market for individuals is offered through Forex Brokers.
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