EUR/JPY Forecast August 21, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

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

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
We value your privacy. Your e-mail address will not be shared.
About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment

Your email address will not be published.


FX Fortune Teller

Chris……..i’m not asking you
i’m not advising you

i’m TELLING YOU. 110.00 in 3-6 weeks in EJ. done deal