Forex − Chart EUR/JPY Update: Still very tight
Thursday, August 19, 2010
, Posted by Usman Ali Minhas at 6:20 AM
International Trading
19 Aug EUR/JPY Daily 13:25 - This week's sideways movement continues, with the EUR locked on the 109.75~ pivot and capped at 111.10 (last Fri; not tested yet this week.) This range is becoming increasingly mature (=ready to break), with today's range so far very symmetrical either side of 109.75 - we'd go with the next fast trade up or down. Watch 111 on a rally (then 113.35) OR 107~ on a fall. [NR] R5: 114.75 * 28-Jul high
R4: 114.15 2, 3-Aug highs
R3: 113.35 * fr 26-Jul high volume
R2: 112.55 6-Aug low
R1: 111.10 13-Aug high
S1: 109.75 * fr 1-Jul high volume
S2: 109.05 17-Aug low
S3: 108.10~ fr 29-Jun high volume
S4: 107.30 * 29-Jun low
S5: 106.75 * 8-Nov-01 low
