EUR/JPY : Medium term bullish slant
--- Follow up analysis ---
The pair EUR/JPY has validated yesterday the breakout of its medium term bullish slant (blue line) who is now acting as resistance. On this last bearish rally, the price has also validated the breakout of 101, offering a sell signal. The price just found support on 100.50.
We advise to trade the pair according the 101:
- Only long positions above. A pullback on this level stay possible. The breakout of 100.50 will give a new buy signal and will open the way towards 100
- Only short positions below. The breakout of 101.50 will allow the price to reach the next resistance at 102.
Analysis published by Vincent, the 10/10/2012 at 11h30 GMT+2
Chart of the pair EUR/JPY - Timeframe 1H
Chart of the pair EUR/JPY - Timeframe 4H
|EUR/JPY Live Chart - Timeframe : 4h|
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