EUR/JPY : Towards a return below 100?
--- New analysis ---
The pair EUR/JPY is currently testing the support at 101 and is moving into a short term bearish channel (blue lines in h1).
We advise to trade only short positions as far as 102 is resistance. The breakout of 101 will give a new sell signal and will allow the price to test the psychological level at 100.
In case of return above 102, we will then advise to wait the breakout of 103 to trade long positions.
Traders with a more agressive strategy could trade the pair according to 102 (long above and short below).
Analysis published by Vincent, the 11/09/2012 at 11h00
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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