FX.co ★ EUR/JPY Bullish Above 104.18 , September 19, 2011 (Daily Strategy)

EUR/JPY

The euro – Japanese yen pair fell to new low levels, the like of which it hasn’t seen for some 11 years. reaching the price of 103.86.

Technically, it is important to pay attention to weekly support located at 104.18 and 102.40 only to the extent that weekend to negotiate the pair above this level will get confirmation of a real support and the possible beginning of a new wave bullish is expected to lead to the euro-yen in the long term to the price levels of 118.50