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Sunday, September 19, 2010

EURO/JPY ---to breach 115.00 near term ??

The positive sentiments on Euros strength and the continual SELLING Down the Yen by BOJ shall cause a Bullish Rally on EUROS/JPY.


H4 Chart with Trendlines




Daily Chart with Ichimoku 








On the H4 Chart with trend lines, we note that there may be a slight PULL Back near Support 1 ( 111.04). and near Support 2 ( 110.60) before it starts its Bullish Rally up ward (Negative -biased  on last Friday Close).
As such, wait for Further Pull back  near 110-110.50, before you may Buy up (Long) this currency pair FOR ITS UP TARGET 114.20 , follows by  above  115.00




On Daily Chart with Ichimoku,  we note that 110.00 is the support 1 , also near its Ichimoku Bottom cloud support which is the same as the 61.80 % Fibo Retr,., and support 2 is near 110.70. We would prefer to wait for further Pull back near support 1 / 2, before we Buy Up (Long) this currency with targets 113.48 (Resistance 3) , and  follows by 114.72 (100% Fibo Retr)

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