EUR/JPY forecast for the week of October 1, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The EUR/JPY pair fell during the previous five sessions as the Euro weakened against the Yen in general. The pair found support at the 100 level, and this of course is a major area as it is a large round psychological number. Right now, it still looks weak, but we are willing to look for supportive candles in this general vicinity.

After all, we did break out recently and have now pullback to an area that could be simply proving resistance as support going forward. Alternately, we would be willing to sell if we got below the 99 handle on a daily close as it would show a continuation of the downtrend

 

EUR/JPY forecast for the week of October 1, 2012, Technical Analysis

EUR/JPY forecast for the week of October 1, 2012, Technical Analysis

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