EUR/JPY Technical Analysis (Euro / Yen) - Forex
International Business Times
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February 1, 2013 1:57 AM EST

Forextribe
Updated the:
01/31/2013		 EUR/JPY : rebound programmed by the fundamental

Sentiment :
sentiment sur la parité AUD/USD
122
sentiment sur la parité AUD/USD
120
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The pair EUR/JPY continued its bullish movement and has validated yesterday a breakout of 123 points, offering a new buy signal.
The price is back this morning on this level od support and is trying to bounce back.
The pair is still far away from its medium term bullish slants (purple lines on charts - best drawn visible on the previous analysis)

I advise traders to trade only long positions as far as the price will be located above the 122 points.
A stay above 123 will reinforce this bullish sentiment.
The upward breaks of 124 would offer a new buy signal for an extension of the bullish movements towards 125 points or above if this level is broken.

In case of return of the price below 122 points, I would  then advise traders to wait a breajout of 120 points before trading short positions.

Full analysis
Analysis published by Vincent, the 01/31/2013 at 11h00 GMT+2
- Complete sheet of the pair EUR/JPY - Previous EUR/JPY Analysis -
Chart of the pair EUR/JPY - Timeframe 1H
EUR/JPY Technical Analysis
Chart of the pair EUR/JPY - Timeframe 4H
EUR/JPY Technical Analysis
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