Morning Report

eurjpy01_02_2012

The pair is trading positively since the morning after founding base on the several support levels between 100.25 and 100.45, where Stochastic is positive and supports the upside move. Therefore,our morning positive expectations remain valid today unless the provided a daily closing below 100.25.

The trading range for today is among the major support at 99.30 and the major resistance at 102.55.

The short-term trend is to the downside as far as 123.30 remains intact, targeting 94.80.

Previous Report

Weekly Report

Support99.3098.5097.8097.4597.00
Resistance100.00100.90101.60102.00102.55
RecommendationBased on the chart and explanations above, our opinion is buying the pair around 100.25, and taking profit at 102.55 and stop loss with 99.30 might be appropriate today