EURJPY
Weekly
Analysis
19-July-2010
Disclaimer: There is a very high degree of risk involved in trading. In any market where a potential for
profit exists, there exists also a risk of loss. Forex trading is a risky business. You should only trade with
money that you can afford to lose. In case of loss, the amount should not affect your lifestyle and your
family’s in anyway. None of the information on our website nor any information or education provided
to the reader by any means assures that the reader will make money in the Forex market. Neither the au-
thor nor the publisher will be responsible for the use or misuse of the information contained herein. The
information contained in this ebook is for information purposes only. It is not intended as professional
advice or a recommendation to act. Before engaging in any activity mentioned in this ebook, seek the
advice and consultation of a competent professional. All trademarks mentioned herein are the property
of their respective trademark owners.
www.TopPips.com
EURJPY Weekly Analysis
Weekly Trend Direction: Bearish
Weekly Trend Reversal Level: 113.40
Key Support Levels: 111.00, 110.00, 109.60, 108.60
Key Resistance Levels: 113.00, 116.10
Entry Strategy: Selling rallies in downtrend
Trade Suggestion: We had a corrective bullish run on this pair for the past few
weeks, however the long trend on this pair is still bearish. We have a strong resis-
tance on this at 113.00 area by which this pair failed to break that level several times,
113.00 is also a 38.2 fib level from its fall from 122.27 to 107.31.
We have seen another test to that level on friday by which it has again failed to break
that level. However on a daily chart it has been now in a bulllish channel, we are now
seeing a breach to that bullish channel support line, by which prices can fall back to
110.00 to 109.00 area or possibly can continue to extend downward to test its lows.
This pair has a support at 110.00 area, breach of that will push this pair much lower
Alternate suggest