EUR/JPY
The Euro-Japanese yen pair, is quoted above strong support at 99.56 formed in June 2001, this level will be very important to note, if the downward trend continues, we believe will have a strong upward bounce around 98.80. We can now enter buy orders, we recommend caution before a sharp fall, if we are a little more conservative we can enter when the price is around the second monthly support. If the pair closes the prices above the annual minimum 99.90. we have a recovery of the euro-yen pair. Our ultimate goal, we will place monthly pivot point around 105.40 yen per euro.
Indicator Momentum this showing signals a bullish move. Range indicator in daily charts is seen is a strong oversold. It is therefore imminent correction.