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EUR/JPY : Close to the upper band of its bullish channel
Sentiment :
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