| Forex Signals 11.06.2007 |
Headlines: Massive correction for Euro against Yen
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Long signal |
Short signal |
| EUR/JPY |
Buy a break of resistance level at 164.00
Buy a break of resistance level at 162.90
Buy a bounce at 162.30
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Sell a break of support level at 162.30
Sell a break of support level at 161.80
Sell if cannot break the resistance 162.90
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The Euro may continue to drop against the Yen for another week, according to technical charts some traders predict the price movements by using many oscillators like RSI, ROC, Stochastic and many more. The daily chart shows that the EUR/JPY recently in an uptrend but with a big correction. The next target for the EUR/JPY might be 162.00 for short term. |
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Trends:
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Primary Tendency
The primary tendency remains bullish, started from 17 May 2006
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Secondry Tendency
The pair continues the up trend and reached 164.60
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Minor Tendency
The Minor trend is in a downtrend
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Technical levels:
Resistance:
164.00
162.90
Support:
162.30
161.10
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