Morning Report

eurjpy12_04_2012

The pair closed the session yesterday above 105.95, where momentum indicators continue to provide positive signs that support the pair to incline over intraday basis. The pair's movement is limited between the previously breached resistance -current support at 105.95- and the resistance of 106.90. Therefore, we remain neutral, observing the pair's behavior around the critical levels.

The trading range for today is among the major support at 105.00 and the major resistance at 108.95.

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

Previous Report

Weekly Report

Support105.95105.00104.25103.25102.55
Resistance106.90107.50108.00108.45108.95
RecommendationBased on the charts and explanations above we remain neutral, awaiting more confirmations