EUR/JPY Classical Technical Report 01.03
EUR/JPY:The latest break back below the daily Ichimoku cloud delays any hopes for a meaningful recovery on the cross and opens the door for a more significant decline below critical psychological barriers at 100.00. Although daily studies are oversold, the downtrend has been intense with the market trading by multi-year lows and showing no signs of reversal just yet. At this point, a break back above 102.55 will be required to alleviate immediate downside pressures.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email email@example.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.