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EUR/JPY Classical Technical Report 06.08

EUR/JPY Classical Technical Report 06.08

2012-06-08 07:40:00
Joel Kruger, Technical Strategist
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daily_classical_eurjpy_body_eur.png, EUR/JPY Classical Technical Report 06.08

EUR/JPY: Setbacks have finally stalled out ahead of 95.00 and with daily studies violently oversold, the market is now looking for a healthy corrective bounce. However, we still contend that this corrective bounce could develop into something more significant, and prospects for a major longer-term base from current level is not to be ruled out. Look for a break and close back above 100.00 to help reaffirm our bullish outlook.

--- Written by Joel Kruger, Technical Currency Strategist

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

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