namrata.yadav Posted July 7, 2011 Report Posted July 7, 2011 EUR/JPY: downside bias Signals on my point and figure charts are mixed as the exchange rate bounces from its lows. The 0.05x3 chart has a new upside count to 116.90 but it also still has the old 115.35 target which has not quite been met and a new dowside count to 114.45. However, overall there is a downside bias given the very bearish looking triple bottom continuation pattern on the 0.1x3 chart, so a move to 115.35 first and then probably 114.45 is likely. Belajar 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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