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EUR/JPY


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#51 Tiberiu

Tiberiu

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Posted 16 January 2012 - 12:38 AM

EUR/JPY,Weekly View(16-20.01),4Hours Chart:


Price is moving in a downtrend and has found support at 97,54(Monthly S1).


- Bullish retracement could break 98,37(downtrendline confluence with Weekly Main Pivot) and reach 99,47(100SMA confluence with weekly R1), or even further to 100,55(200SMA) and 101,5(Monthly Pivot confluence with Weekly R2).


- Downside Risk without retracement would break 97,00Support and reach 96,44(Weekly S1) and 95,40(confluence between Monthly S2 and Weekly S2).

To Your Success,

Tiberiu
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