EUR/JPY Forecast October 3, 2012, Technical Analysis

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EUR/JPY rose during the session on Tuesday as the market tested the 101 handle. The 100 handle still continues offer support, and we think that will remain the case. Because of this, we like buying short-term chart pullbacks that show signs of support. We think eventually this market runs all the way to the 105 handle, and with all of the sudden bullishness in the Euro, this isn’t really that big of a surprise that the market looks a strong. With the Bank of Japan working against the value the Japanese yen, and the world being suddenly happy with the state of things in Europe, this market looks like it only has one direction to go.

 

EUR/JPY Forecast October 3, 2012, Technical Analysis

EUR/JPY Forecast October 3, 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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