Tuesday, August 4, 2009

Daily Forecast for Crosses: August 03 02 Aug, 2009 @ 05:05 pm ETswibowo



EURJPY Forecast

The EURJPY had a moderate bullish momentum on Friday. On h4 chart below we can see that the price is now back above the trendline suggesting potential bullish outlook. However we know that lately this pair is technically a mess as it still struggling around the trendline without any convincing direction. I will focus on July 27 high at 138.08 area. A clear break above that area should trigger further bullish momentum testing 138.87 or even 138.87 area. Immediate support at 134.10. Break below that area would continue the uncertainty and could lead us into no trading zone.

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