Forex4you Technical Analysis 29 June 2011

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Forex4you Technical Analysis 29 June 2011

Post  namrata on Wed Jun 29, 2011 5:35 am

EUR/JPY: reaching resistance
The pair is rallying up quite strongly although resistance from a major trendline at the current highs at 117.00 will probably curb the advance. If the exchange rate reverses from there it could begin a decline back down to the 114.00 lows although support at 116.45 gives a closer target. If it breaks above the trendline then it will probably fulfil the upside target on the the 0.1x3 point and figure chart at 119.50 in time.


Forex
Analysis by: Joaquin Monfort
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