Daily Technical Stategist EURJPY

1
Monday, 16th of Jan, 2012 DAILY
TECHNICAL STRATEGIST EURJPY
FXTechstrategy Team
info_at_fxtechstrategy.com
  EURJPY Long Term Downtrend Remains Intact,
Pressure Builds On The 96.76 Level. EURJPY- The
cross remains biased to the downside in the long
term as it continues to hold on to its long term
bearishness and looks to decline further. As long
as the 98.77 level caps, the immediate risk
points to its psycho level at 97.00 level where a
breach will send EURJPY further lower towards the
96.76 level, its Dec 122000 low. A cut through
here will allow for further declines towards the
96.00 level, its psycho level. Both its daily and
weekly RSI are bearish and pointing lower
supporting this view. Conversely, on any
corrective recovery, the cross will have to
convincingly break and hold above the 98.77 level
to put its present downside threats on hold and
bring more gains towards the 100.75/25 levels.
Above here if seen will open the door for further
upside towards the 102.52 level, its Dec 212011
low where a violation will target its Dec 022011
high at 105.69. All in all, EURJPY looks to
weaken further with eyes on the 97.00/96.76
levels. To read the full version of this 7 model
currency analysis click here FXT Technical
Strategist Plus
www.FXTechstrategy.com Providing
Balanced Independent Research
2
This report is prepared solely for
information and data purposes. Opinions,
estimates and projections contained herein are
those of FXTechstrategy.com own as of the date
hereof and are subject to change without notice.
The information and opinions contained herein
have been compiled or arrived at from sources
believed to be reliable but no representation or
warranty, express or implied, is made as to their
accuracy or completeness and neither the
information nor the forecast shall be taken as a
representation for which FXTechstrategy.com
incurs any responsibility. FXTstrategy.com does
not accept any liability whatsoever for any loss
arising from any use of this report or its
contents. This report is not construed as an
offer to sell or solicitation of any offer to buy
any of the currencies referred to in this report.
Click here for full disclaimer