EUR/JPY Forecast August 21, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
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The EUR/JPY pair fell during the session after going back and forth on Monday. The pair looks like it's trying to find some type of support in the 98 region, and as such we aren't quite ready to sell yet.

We still believe that the Euro is doomed to fall in price, and that the 98 to 100 level is a big massive resistance. However, we haven't got our sell signal yet and as such are staying on the sidelines. With this in mind, we are looking to sell rallies that show weakness, but we don't see that sign quite yet. As for buying this pair, we would need to see a daily close above the 101 level in order to be convinced.

EUR/JPY Forecast August 21, 2012, Technical Analysis

EUR/JPY Forecast August 21, 2012, Technical Analysis

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