EUR/JPY Technical Analysis (Euro / Yen) - Forex
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March 2, 2013 12:52 AM EST

Forextribe
Updated the:
03/01/2013		 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 is moving into two bearish channels (brown lines and orange lines on charts). Before yesterday, the price made ​​a pullback on mid lines of these two medium term channels. The pair continues to move around 121 points.

I advise traders to trade only short positions as far as 122 is resistance.
A return below 121 points will strengthen the bearish sentiment.
Downward breaks of 120 and then 119 points would offer new sell signals for an extension of the bearish rally towards 118 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 03/01/2013 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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