This pair pulled back after reaching 114.05 as predicted, and then fell to 113.01. With a recovery rally launched today currently at 113.40 - it may well go higher as the second leg of the zigzag we are in does not look complete, and has only reached minimum length expectations.
Showing posts with label euro yen january 2011. Show all posts
Showing posts with label euro yen january 2011. Show all posts
Friday, January 28, 2011
EUR/JPY | Euro/Yen | Technical Analysis | 28 January 2011
EUR/JPY | Euro/Yen | Technical Analysis | 28 January 2011
There is every possibility of a retouch of 114.05, or even a break higher to 114.30. A push lower, in perhaps a long overdue Elliot wave 4 could also be a possibility targeting the 200 day MA at 112.01 as the next strong support level.
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