EUR/JPY Forecast October 17, 2012, Technical Analysis

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

The EUR/JPY pair shot straight up during the session on Tuesday as the 102 level now looks very supportive. We did manage close the session above the 103 handle, and as such it does look like we’re destined to go much higher. The last bit of resistance that we see for the immediate future is at the 104 level. If we get above that, we are quite frankly going to be aiming for 110 before it’s all said and done.

As for shorting this pair, we would have to see some type of resistant candle in this general vicinity, and we could at that point see a return to consolidation between 100 and 104. However, as things look right now we believe that the buyers will eventually win out. If there is an announcement of the Spanish bailout, this pair will shoot straight up.


EUR/JPY Forecast October 17, 2012, Technical Analysis

EUR/JPY Forecast October 17, 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Your email address will not be published.



EJ Is going back down to 100.00 For sure……
THEN it will go back up