Wednesday, January 26, 2011

EUR/JPY | Technical Analysis | 26 January 2011

EUR/JPY | Technical Analysis | 26 January 2011

This pair is in a sideways move. It has lost the momentum to go higher and yesterday’s sharp fall came to an abrupt halt at 112. The last 3 days have all been doji which is a slightly bearish sign although there has been no bearish confirmation from price.

Obviously a continuation to key resistance in the 114’s is still possible, whilst a move to the downside would first find support at the bottom of the range at 111.80.


by Joaquin Monfort, Analytical expert , Forex4You © 2011

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