|EUR/JPY : Close to the upper band of its bullish channel|
|Since one month, the pair EUR/JPY let us hope a take up of the medium term bullish trend with a return above 100 but the price has failed to break the upper band of its medium term bearish channel (purple lines).|
Yesterday, the Yen appreciated again the Euro and felt on the midline of its channel and is currently valdiating the breakout of 99.
We expect a pursuit of the bearish rally below 99, with a first objective at 98.
As far as 99.50 is resistance, we will advise only short positions.
Analysis published by Vincent, the 07/06/2012 at 9h15 GMT+2
|Complete sheet of the pair EUR/JPY - Previous EUR/JPY Analysis|
Chart of the pair EUR/JPY - Timeframe 1H
Chart of the pair EUR/JPY - Timeframe 4H
EUR/JPY Live Chart - Timeframe : 4h