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Forex4you Technical Analysis 16 May 2011

Discussion in 'Technical Analysis' started by forex4you, May 16, 2011.

  1. forex4you

    forex4you New Member

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    EUR/JPY: technical analysis
    The EUR/JPY has broken drown through key support at 115.00 reafriming the downtrend. It is currently rolling over after a counter-trend correction. There are a succession of bearish targets on the charts but the nearest is 113.45 on the 0.05x3 chart, followed by 112.50 on the 0.1x3. It will probably fall to the nearest of these targets at least, which also constitutes the base of the current consolidation zone.

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    Forex | Foreign Exchange
    Analysis by: Joaquin Monfort
    Forex4you analyst


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