EUR/JPY Forecast September 12, 2013, Technical Analysis

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The EUR/JPY pair tried to rally during the session on Wednesday, but as you can see failed at the 133 level. The resulting shooting star is a little bit of a weak signal, but we think that the market will more than likely only pullback to find more buyers. Because of this, we would buy a break of the top of the candle, as well as any pullback that shows signs of support, especially one that forms a daily hammer or something of that ilk. As for selling, we have absolutely no reason to do so.

 

EUR/JPY Forecast September 12, 2013, Technical Analysis

EUR/JPY Forecast September 12, 2013, 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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