Tuesday July 27, 2004 - 04:53:49 GMT
Share This Story
Saxo Bank - www.saxobank.com
EUR/JPY set for further fall towards 131 today.
27 July, 04:53 GMT - EUR/JPY: 133.40
A head and shoulders formation is easily visible on the EUR/JPY chart, with the top of the head coming in at the recent high of 135.80 and the neckline at around 133.50. That neckline was broken yesterday, and EUR/JPY, with the weak EUR and a possible positive tendency in the stock market today (JPY positive), could be set for lower levels still.
Sell EUR/JPY here (around 133.40) with a stop at 134.10 and a target of 131.10.
Saxo Bank Market Strategies
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."