EUR/JPY Forecast September 19, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The EUR/JPY pair fell during the session on Tuesday after forming a shooting star on Monday. Normally, this would be a very bearish sign, but the sellers seem to have been tricked a bit. By the end of the Tuesday trading session, we have a conflicting hammer which suggests that there is quite a bit of support below this area. With this being said, buying on the dips seems to be the way to go in this market. Once we had cleared the 102 level, we thought this pair was completely broken out, and should continue to rise over time. Our opinion of this has not changed in the slightest.

EUR/JPY Forecast September 19, 2012, Technical Analysis

EUR/JPY Forecast September 19, 2012, Technical Analysis

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