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Forecast EJ - Technical Analysis Week 20130610

Posted by Nelayan Forex On 6/11/2013 04:06:00 AM
By FX Empire Analyst - Christopher Lewis: 

eurjpyWEEK

The EUR/JPY pair formed a hammer for the week, and as a result it looks like the market is primed to start going higher again. I frankly, as the Yen had sold off drastically in the middle of the week, a lot of people have stepped in to take advantage of weakness and a market that is without a doubt very strong overall. Going forward, we fully expect this market continue higher, and believe that a breakout is imminent. Nonetheless, expect a lot of volatility above the top of the week’s range, as we would be plowing directly into a shooting star.

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