EUR/JPY Forecast October 25, 2012, Technical Analysis

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

The EUR/JPY pair initially fell during the session, but bounced in order to form a hammer at the 103.50 level. This hammer looks rather attractive, and we are buying this pair on a break of the highs from the session. Obviously, the 103 level looks supportive now, and we think we will continue to grind higher. Needless to say though, if there are headlines out of Europe, this could push this pair back down. Overall though, we are bullish of this pair and believe that the upside is the right side going forward.

 

EUR/JPY Forecast October 25, 2012, Technical Analysis

EUR/JPY Forecast October 25, 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 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.

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


Your email address will not be published.