EUR/JPY forecast for the Week of July 23, 2012, Technical Analysis

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The EUR/JPY pair fell hard during the week as the situation in Europe continues to concern traders around the world. Spanish and Italian bond yields have both risen over the last week, and as such the Euro is being sold off.

The pair managed to close right around the 95.50 level, and is pressing against recent lows. This suggests to us that we are going to see a move even lower, and as such we are willing to sell this pair on any rally that comes. In fact, we are not willing to go long of this pair anymore into we break above the 101 handle.

EUR/JPY forecast for the Week of July 23, 2012, Technical Analysis

EUR/JPY forecast for the Week of July 23, 2012, Technical Analysis

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About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com 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.

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