Euro Yen (EUR/JPY) - 22/01/2008 - Archive

EUR/JPY - Euro Yen

EUR/JPY - Euro Yen

Short term (Intraday)

153,32. EUR JPY is in an downtrend directed by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The downtrend should continue to gather momentum. The target is expected at 150,00.
=> We could take a short position at 153,40. We will put the stop loss above 154,10 (-70 pips). The targets are 152,30 (+110 pips) 151,00 (+240 pips) 150,00 (+340 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances
153,85 - 154,85
Supports
152,30 - 151,00
updated 22 janv 2008 05:50 GMT +02:00

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