Euro vs. Japanese Yen (2011-11-28)

By @ibtimes on

WeeklyReport(28 Nov- 02 Dec 2011)

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Trading settles below the support of the range bound shown on image, while stochastic enters oversold areas over the four-hour timeframe. Therefore, we expect a downside intraday move this week supported by the pressure from the 50 EMA. Awaited targets start at 101.70 while steady trading below 104.75 is required for our expectations to remain valid.

Trading settles below the support of the range bound shown on image, while stochasticover four-hour basisenters oversold areas . Therefore, we expect a downside intraday move this week supported by the pressure from the 50 EMA. Awaited targets start at 101.70 while steady trading below 104.75 is required for our expectations to remain valid.The trading range for the week may be among the 101.70 support and 104.75 resistance.

The trading range for the week may be among the 101.70 support and 104.75 resistance.

The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.

Previous Report


Support102.65102.10101.10100.80100.00Resistance103.40104.25104.75105.35106.10RecommendationBased on the charts and explanations above we recommend selling the pair around 103.40 targeting 102.10 and 101.00,stop loss with four-hour closing above 104.25 may be appropriate

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