EUR/JPY Technical Forecast – 11th June 2010, 10.50hrs GMT (2nd posting)
Further to our 1st posting on June 2nd regarding the EUR/JPY pair.
The chart below is the one we posted on June 2nd.
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As we predicted the downward breaking of the MOB level of 110,00 Jen annulets the upward
move of the Euro. Indeed, the parity dived upto the level of 108,00 Jen before recovering to the
present levels.
The charts below are the ones forecasting the possible evolvement of the pair’s parity.
As you can see from the above two charts the blue up moving channels guide the evolvement of the pair;s parity for some time. We forecast that is only a matter of time to observe the up breaking of the upper line of the channels. In the 10 min chart the 50SMA is already above the 200SMA, while in the 60 min chart the 50SMA is approaching from below the 200SMA.
We will revert on the matter.
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