FX.co ★ EUR/JPY Continuing Upward Trend, December 03, 2010 (Daily Strategy)

EUR/JPY

The movement to positive investor sentiment is expected to support also the Euro - Japanese Yen pair that moves in a positive relation with the financial market. Technically speaking, the major resistance level of 110.60, will serve us as a buy trigger if it ends the week by closing over that level tonight.

Such a close would signal of a new upwards movement that is expected to push the pair towards the 112.20 resistance level, our first goal for a partial realization of the position. There exists a serious possibility that the pair might climb even higher, towards the high 114.50 resistance level, our second and final full realization goal.