EUR/JPY Forecast September 18, 2012, Technical Analysis

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EUR/JPY rose during the session on Monday, but gave back many of his gains once we get the 103.50 level. In fact, the daily candle looks a bit like a shooting star, and suggests that we may see a pullback. However, we think the 102 level should be the beginning of significant support all the way down to 100 or sell. With this being the case, we are willing to buy pullbacks as the Yen is being worked against by the Bank of Japan as well. We think this is a “buying only” market at the moment, and we do plan on taking advantage of pullbacks.

 

EUR/JPY Forecast September 18, 2012, Technical Analysis

EUR/JPY Forecast September 18, 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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