EUR/JPY Technical Analysis (Euro / Yen) - Forex
International Business Times
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February 27, 2013 12:19 AM EST

Forextribe
Updated the:
02/26/2013		 EUR/JPY : The correction is launched !

Sentiment :
sentiment sur la parité AUD/USD
124
sentiment sur la parité AUD/USD
122
sentiment sur la parité AUD/USD

--- Follow up analysis ---
The pair EUR/JPY made a pullback yesterday on 125 and also on its its medium term bullish slant (purple line), before to start a powerful bearish rally. This rally stopped on 119 and the price already made a pullback on 121. The price is currently sailing on the support line of the short-term bearish channel (orange lines on the graphs). This morning, the pair has again found support on 119 points, and is trying to rebound above 120 points.

I advise traders to trade only short positions as far as 122 is resistance.
A stay below 121 points (better! A return below 120 points) will strengthen the bearish sentiment.
Downward breaks of 119 and then 118 points would offer new sell signals for an extension of the bearish rally towards 117 points.

In case of return above 122 points, I would advise traders to wait the breakout of 124 before trading long positions.
Full analysis
Analysis published by Vincent, the 02/26/2013 at 09h15 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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