namrata.yadav Posted June 29, 2011 Report Posted June 29, 2011 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. 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.
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