EUR/JPY : Medium term bullish slant
--- Follow up analysis ---
The pair EUR/JPY has validated yesterday the breakout of its short term bearish slant. The price is now moving again above its medium term bullish slant (blue line). After a double bottom on this line (matching with he minor support at 101.25), the pair is currently validating the breakout of 101.50 and move towards the resistance at 102.
We advise to trade the pair according the 101:
- Only short positions below. A pullback on this level stay possible if 100.50 do not act as resistance. The breakout of 100.25 will give a new buy signal and will open the way towards 100
- Only long positions above. The breakout of 101.50 will allow the price to reach the next resistance at 102.
Analysis published by Vincent, the 10/12/2012 at 10h30 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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