namrata.yadav Posted May 16, 2011 Report Share Posted May 16, 2011 EUR/JPY: technical analysis The EUR/JPY has broken drown through key support at 115.00 reafriming the downtrend. It is currently rolling over after a counter-trend correction. There are a succession of bearish targets on the charts but the nearest is 113.45 on the 0.05x3 chart, followed by 112.50 on the 0.1x3. It will probably fall to the nearest of these targets at least, which also constitutes the base of the current consolidation zone. https://lh4.googleusercontent.com/_IOEXXZ09dc8/Tcuwk-X9iPI/AAAAAAAAAIA/la4Gw3puwY0/s640/AUDUSD120511.png Forex| Foreign Exchange 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. Quote Link to comment Share on other sites More sharing options...
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