Sunday, December 16, 2007

EUR/JPY Update

Hourly bolinger bands are poised to the downside. Another test to the lower side is still expected. 163.15 is immediate support followed by 162.70. Hourly RSI is bearish, at the time of writing, the price has already tumbling, might as well heading towards 162.80. On the other hand, the price needs to close above 164.00, to regain the upward momentum.

Daily Pivots: 161.35, 162.28, 162.80, 163.70, 164.26, 165.15, 165.71

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