EUR/JPY Forecast September 19, 2012, Technical Analysis

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

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

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Your email address will not be published.