FXstreet.com (Barcelona) - The EUR/JPY seems to be failing at 104.59, very close to its initial target of 104.69/82 (23.6% retracement of the move down from the 2009 peak and the 61.8% retracement of the move seen this year), and have technical indicators to back this view: “We note the divergence of the daily RSI and the 13 count on the Tom de Mark Combo – both of which suggest that the market has topped for now and that we should see a slide back to the 101.11 uptrend”, wrote analyst Karen Jones, longer term bullish, targeting 107.37. 2009-2012 resistance line.
Forex Flash: EUR/JPY topped, to slide back to 101.11 - Commerzbank
Wed, Oct 24 2012, 07:36 GMT | FXstreet.com
EUR/JPY May 21 at 14:37 GMT
132.02/02 (0.21%)
H132.43 L 131.68
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
