We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
EUR/JPY Classical Technical Report 10.31

EUR/JPY Classical Technical Report 10.31

2011-10-31 06:48:00
Joel Kruger, Technical Strategist
Share:
Daily_Classical_EURJPY_body_eurjpy2.png, EUR/JPY Classical Technical Report 10.31

EUR/JPY:The market continues to show signs of the carving of a material base with the latest break back above the 107.50 area triggering an inverse head & shoulders formation on the daily chart which opens the door for a move towards the 114.00 area further up. From here, look for any setbacks to be well supported in the 107.50 area, with only a break back below 105.00 to negate.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.