EurJpy Just Shy of 111.00. Staying Long 2012-12-17 |
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The single currency pair has risen through the region of 110.80 today. Currently it seems to be retracing and providing another short term opportunity to go long. The only resistance is at 111.00 level, while support is far from it at 106.00, followed by 105.00. It is recommended to stay long form positions taken earlier. Moreover, buying on intraday dips is good. A pullback should be expected after the resistance at 111.00 is cleared. Looking higher from here on till 111.00 clears the way.
Trading Recommendations:
Stay long from earlier positions, move stop loss to breakeven levels. Target is at 111.00
Good Luck!
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