EUR/JPY Technical Analysis (Euro / Yen)

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February 6, 2013 2:23 AM EST

Forextribe
Updated the:
02/05/2013
EUR/JPY : rebound programmed by the fundamental

Sentiment :

125

124

--- Follow up analysis ---
The pair EUR/JPY felt with strenght yesterday on the support at 124.
On this movement, the price has validated a break out of its short term bullish slant (pink line on the 1h chart). The pair is boucing back this morning and is trying to return above 125.

I advise traders to trade the pair outside the range 124/125:

- Only long positions above the 125 points. The upward break of 126 and 127 points would then offer new buy signals for an extension of the bullish trend.
Attention to short-term bullish slant who now could act as resistance (pink line).

- Only short positions below 124 points. Downward breaks of 123 and 122 points would then offer new sell signals for an extension of the bearish movement.

Full analysis
Analysis published by Vincent, the 02/05/2013 at 11h00 GMT+2

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