namrata.yadav Posted June 22, 2011 Report Posted June 22, 2011 EUR/JPY: roll-over potential The EUR/JPY has rolled-over and is descending quite rapidly. There is a chance the trend has changed and we are into Elliot wave 5 down from the 7th June highs. There is a support and resistance level at 114.90 and a point and figure target at 114.45 which could act as consolidation zones. Alternatively the up-trend may simply continue with the 0.1x3 point and figure chart supplying an upside target at 116.00 which has still not been achieved. 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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