Truly impressive euro weakness and Yen strength? The Devienmarkt with daily sales of up to $1.9 trillion, is now reserved for not just the banks. Therefore, the currency pair EUR-JPY today focus on the consideration. Manages the return to strength? Truly impressive euro weakness, the currency pair EUR-JPY lost more than 5,800 pips since the trained high from July of the year 2008 at just under 170 yen at a low of January 2009 at about 112 Yen in barely six months. Thus an approximately seven-year performance dissipated within a few months including the reversal of carry trades greetings here, but just because this eruption can be not explained. Nevertheless, delivered at an early stage at least from chart-technical approach, a first warning with the value falls below of the price levels of 148 to 150 JPY EUR-JPY. Humbling a further training a (rare indeed in foreign exchange) price gap at the beginning of October was followed by this signal on the Level of around 143 yen.
The attached 2 Jahreschart examples demonstrates the appropriate consequences. CONCLUSION: But back to current events. EUR-JPY broke through the primary and has existed since August 2008 downward by nearly four percent yesterday, an amazing day performance. The supporting established EUR-JPY above the 55-day average and could train moving steadily higher-lows since the marked low in the area around 112 yen. The tarnished image of the chart seems to brighten as a result! What opportunities for this result can, I would like to represent you based on two scenarios. Background of the scenarios is the fact that technical analysis is not static and it is also a snapshot.
Basically any behavior of the currency pair should be commented on continuously, to avoid this, I give myself the chance to develop and work through scenarios therefore the chart. LONG scenario: the trend line broken EUR-JPY signaled further upside potential in the short term until approx. 131 EUR JPY. EUR-JPY established also lasting about 123 yen, may rightly by the formation of a stable soil spoken and therefore the price level can be targeted in the medium term of around 143 JPY (price gap from October). Above by 145 JPY, the chart picture brightens visibly. SHORT scenario: as soon as drilled EUR JPY by the downtrend line, so quickly the currency pair sags back under the relevant price level of 122 yen. The rupture of the short-term uptrend line currently 119,40 JPY, takes place in this context so JPY may be included with a further slip to at least 117. The deep is enabled again by January 21, 2009 at around 112 Yen below 117 JPY. EUR-JPY this educates new lows, more 1,000 pips probably are discount. Copyright created by Christian Kammerer the presented charts with TradeSignal-Webedition-. Technical analysis for your desired values under: TA4YOU offers individual and exclusive technical analysis for your desired values. Disclaimer: The featured scenarios are for information only and constitute a solicitation for the purchase or sale. Every business in foreign exchange, derivatives and other financial products is subject to corresponding risks. Any liability for pecuniary loss is not applied. Every investor is at your own risk.