Tuesday, July 26, 2011

EUR/JPY Channel Pattern - 26 July 2011


The euro-Japanese yen pair on the short graph (4 hours) appeared the channel pattern that can be used as a trigger for an entry into a long or short position in the event of an upwards breakthrough. A closure above the level of 114.00 will confirm the pairs upwards breakthrough. On the other hand, a downward movement could lead to its nearest support around 111.09, this level will be a good entry point to buy in view of the price objective of short to medium term is evaluated around the previous peak levels of 118 , 00 yen per euro.

Performed by Gerardo Porras Palomino, Analytical expert
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