Jump to content

Forex4you Technical Analysis 29 June 2011


Recommended Posts

EUR/JPY: reaching resistance

The pair is rallying up quite strongly although resistance from a major trendline at the current highs at 117.00 will probably curb the advance. If the exchange rate reverses from there it could begin a decline back down to the 114.00 lows although support at 116.45 gives a closer target. If it breaks above the trendline then it will probably fulfil the upside target on the the 0.1x3 point and figure chart at 119.50 in time.

EURJPY290611.png

Forex

Analysis by: Joaquin Monfort

Forex4you analyst

Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...