the eur/jpy momentum may continue for a couple of hours...and after that ..your guess is as good as mine..
EUR/JPY Attacking a key Trendline Resistance
Bullish continuation? Since forming the double bottom noted in the last 2 updates, the EUR/JPY has rallied sharply over the 11/14 and 11/15 session so far. This week, the pair came up from a low of about 100.30 almost to the 104.00 handle, which is close to the October high of 104.56. The daily chart shows the RSI hold above 40, which is a sign that the bullish momentum is maintained. Now if the RSI pushes above 60, it will reflect bullish continuation momentum. Falling wedge: As we push at this 104-104.50 resistance area, it should be noted that its a very key resistance indeed. When we check the weekly chart, we can see that is is ... (full story)
- Posted: Nov 15, 2012 2:27pm
- Submitted by:Category: Technical AnalysisComments: 2 / Views: 1,427