EUR/JPY technicals: stuck in medium term holding range
Wed, Nov 4 2009, 22:45 GMT
http://www.forexlive.com
EUR/JPY is stuck between a flat-top around 138 and a minor trend-line support now around 131 and we can expect further oscillations inside of this range. This is a classic pennant formation which normally would argue for an eventual break higher but the time-frame is against it (pennants are usually s/t continuation patterns). Resistance on the hourly chart is at 136 and support comes in around 133.50. Range trading on all time-frames is preferred in the absence of any significant trend indication.
Related News
Swiss names selling EUR/USD
Forex Live | Tue, Nov 24 2009, 05:40 GMT
Asian forex market wrap: don’t be happy, worry!
Forex Live | Tue, Nov 24 2009, 04:56 GMT
German Ifo data to provide for volatility in early European trade
Forex Live | Tue, Nov 24 2009, 04:32 GMT
Forex: AUD/USD mixed and trading at 0.9204
FXstreet.com | Tue, Nov 24 2009, 04:19 GMT
Forex: USD/JPY below 90.00
FXstreet.com | Tue, Nov 24 2009, 03:40 GMT
eurusd, eurjpy, currencies, usdjpy
View AllRelated Content
Forex Market Alerts - USD/JPY, USD/CHF Flows - DPM Kan to keep close contact with BoJ; EUR/CHF eye SNB by FXMarketAlerts
Tue, Nov 24 2009, 03:13 GMT
Daily Forex Outlook - Gold Leads Fresh Rally by Easy Forex
Tue, Nov 24 2009, 03:03 GMT
Forex Technical Report - S&P Finishes Higher but Erases Most Day-Session Gains by ForexHound.com
Tue, Nov 24 2009, 00:57 GMT
Forex Technical Report - U.S. Dollar Reverses Early Session Weakness by ForexHound.com
Tue, Nov 24 2009, 00:55 GMT
Daily Forex Strategy Briefing - EUR/USD at Crossroad by CMS Forex
Tue, Nov 24 2009, 00:36 GMT
eurusd, eurjpy, currencies, usdjpy
View All
日本語
Español
中文
Русский 















