Morning Report

eurjpy27_03_2012

The pair retested the level of 109.95 successfully and ended the session yesterday above it, which supports the suggested intraday upside move to continue, targeting initially areas around 111.90 and then 113.50. A breach of 111.15 is necessary for the suggested incline, while we expect the positivity seen on Stochastic to support the pair to breach the mentioned level.

The trading range for today is among the major support at 108.95 and the major resistance at 112.65.

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

Previous Report

Weekly Report

Support109.95109.40108.95108.65107.50
Resistance111.15111.90112.65113.40114.15
RecommendationBased on the chart and explanations above, our opinion is buying the pair around 109.95, targeting 111.10 and 111.90 and stop loss below 108.95 might be appropriate