Although the EUR/JPY cross remains under pressure on correction, its present rejection of lower level prices in early trading today suggests an end to its corrective weakness may be developing. Guest post by www.fxtechstrategy.com However, the cross will have to climb above the 121.79 level, its April 28’2011 high and 123.29 level, its 2011 high to signal an end to its corrective weakness. Further out, resistance is seen at the 124.00 level followed by the 125.43 level, its Jan 05’2010 high and possibly the 126.00 level, its psycho level. Conversely, the risk to this analysis will be a break and hold below the 119.19 level, its May 02’2011 low. This will pave the way for push further lower towards the 118.50 level, its April 18’2011 low. Our maximum corrective weakness target stands at the 116.46 level, its April 18’2011 low where the pair is likely to turn back up and head higher again. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next AUD/USD May 05- Aussie Continues Down Trend Against US Tamar Schoppik 12 years Although the EUR/JPY cross remains under pressure on correction, its present rejection of lower level prices in early trading today suggests an end to its corrective weakness may be developing. Guest post by www.fxtechstrategy.com However, the cross will have to climb above the 121.79 level, its April 28'2011 high and 123.29 level, its 2011 high to signal an end to its corrective weakness. Further out, resistance is seen at the 124.00 level followed by the 125.43 level, its Jan 05'2010 high and possibly the 126.00 level, its psycho level. Conversely, the risk to this analysis will be a break and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
