EUR/JPY forecast for the week of October 8, 2012, Technical Analysis

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The EUR/JPY pair rose during the week and in fact even closed towards the very top of the range. Currently, the pair is running into the beginning of some reasonable resistance up at the 102.50 level, so a pullback could be in the cards. However, we think that any pullbacks should be bought on signs of support and you could even use the shorter-term charts for your entry. We still think that the 104 level will be targeted, and then the 105. As far as selling this market is concerned, we need to see the 99 handle broken in order to feel comfortable doing so.

 

EUR/JPY forecast for the week of October 8, 2012, Technical Analysis

EUR/JPY forecast for the week of October 8, 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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