EUR/JPY Technical Analysis (Euro / Yen)

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January 25, 2013 1:49 AM EST

Forextribe
Updated the:
01/24/2013
EUR/JPY : rebound programmed by the fundamental

Sentiment :

119

117

--- Follow up analysis ---
The pair EUR/JPY found support yesterday on 117 points in extension as well on its medium term bullish slant (purple line - Lines modified on the chart).
The price tries to return this morning above 119 points after the validation that night of the breakout of its short-term bearish slant (brown segment).

I advise traders to trade the pair outside the range of quotes 117/119:

- Only long positions above 119 points. A break of 120 points will provide a new buy signal.

- Only short positions below 117 points. A break of 116 points will offer a new sell signal.

NB: traders whose trading strategy is more aggressive could trade the pair according to the key level at 118:
- Only long positions above 118 points.
- Only short positions below 118 points.

Full analysis
Analysis published by Vincent, the 01/24/2013 at 16h00 GMT+2

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