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Tuesday, October 11, 2011

EUR/JPY Intraday Technical analysis 2011-10-11


Technical analysis

Albert Fitoussi




The spot rates approach to the upper limit of its medium term bearish channel in 105.30 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 105.30 with a 1st objective of 105.80, then 106.20. A break in 105.10 would invalidate this scenario.

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