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FX.co ★ EurJpy Takes Off Resistance... Awaiting Pullback...

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Forex Analysis:::2012-09-14T12:22:53

EurJpy Takes Off Resistance... Awaiting Pullback...

EurJpy Takes Off Resistance... Awaiting Pullback...

Technical Outlook and Chart Setups:

What a trending day has it been for the euro bulls! Multiple resistances have been taken off the board. After reaching 102.00 level, we recommend traders to let the prices indicate a pullback towards 97.00 before re-entering short positions. It is expected to begin a retracement in a few trading sessions from today. Fibonacci support begins from 99.00 level.

Trade Recommendations:

Flat for now.

Good Luck!

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