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Technical Analysis Reports

Forex Center > News > Technical Analysis Reports

EUR/JPY - Euro Yen, European Session - 20/11/08

19 Nov, 2008 @ 10:18 pm ET

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118,92. EUR JPY broke 121,10 support. EUR JPY is in an downtrend directed by 4H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The price should find a resistance below 120,50 (158 pips). The downtrend should continue on 116,00 support (292 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances: 120,20 - 121,20
Supports: 117,80 - 116,10