EURJPY is on a second day of recovery following its recent corrective weakness. However, we will like to see it return above the 123.29 level, its 2011 high to convince the market it has ended that correction. Guest post by www.fxtechstrategy.com This will resume its medium term uptrend towards the 124.00 level. Further price extension will target the 125.43 level and possibly the 126.00 level. Its daily RSI has turned higher supporting this view. The risk to its current strength will be a return below the 116.46 level, its April 18’2011 low. This will open up further downside risk towards the 115.98 level. We expect that level to reverse roles as support and turn the cross back up in the direction of its medium term uptrend. All in all, the cross is now strengthening but needs to break and hold above 123.29 level to resume its medium term uptrend. 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 Apr.21-Aussie Rallies – Hits New High Against US Tamar Schoppik 12 years EURJPY is on a second day of recovery following its recent corrective weakness. However, we will like to see it return above the 123.29 level, its 2011 high to convince the market it has ended that correction. Guest post by www.fxtechstrategy.com This will resume its medium term uptrend towards the 124.00 level. Further price extension will target the 125.43 level and possibly the 126.00 level. Its daily RSI has turned higher supporting this view. The risk to its current strength will be a return below the 116.46 level, its April 18'2011 low. This will open up further downside risk towards… 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.
