EUR/JPY: box pattern

Daily Forex Reports | by Forex4you | Wednesday, 29 August 2012 14:28 UTC
There is a box consolidation on the hourly chart with upside potential. A decisive break above the 98.83 spike high could see a breakout followed by a probable rise up to the upper channel line at 99.75. The other alternative is that the exchange rate is rebuffed by the top of the range and moves back down to the 97.80 range lows, with a move below 98.37 acting as confirmation.

Written by Forex4you

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.