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Massive correction for Euro against Yen
The Euro may continue to drop against the Yen for another week, according to technical charts some traders predict the price movements by using many oscillators like RSI, ROC, Stochastic and many more. The daily chart shows that the EUR/JPY recently in an uptrend but with a big correction. The next target for the EUR/JPY might be 162.00 for short term.
Trends:
Primary Tendency
The primary tendency remains bullish, started from 17 May 2006
Secondry Tendency
The pair continues the up trend and reached 164.60
Minor Tendency
The Minor trend is in a downtrend
Technical levels:
Resistance:
164.00
162.90
Support:
162.30
161.10