EUR/JPY Continues its Down Trend

Doug Rosen

By: Doug Rosen

The EUR/JPY continues to ride the 5 ema down on the daily timeframe.  Lower Bollinger band is open and pointing down.

 EUR/JPY Daily Analysis, November 25, 2011

On the 4 hour timeframe price i also riding down along the ema's.

 EUR/JPY 4hour Analysis, November 25, 2011

Moving on tot he hourly timeframe price has just come off from making a fib overlapped with the 55 ema and the upper Bollinger band is heading down. 

 EUR/JPY 1hour Analysis, November 25, 2011

Finally, on the 15 minute timeframe price is below the daily central pivot point and is below the ema's and heading down. 

 EUR/JPY 15minute Analysis, November 25, 2011

This pair is closely correlated with the stock market and since yesterday was a Bank Holiday I will be watching this pair very closely today when the Stock Market opens.

Doug Rosen
Doug Rosen is a Florida-based Forex trader who became a skilled technical trader through 3 years of intense practice and self-teaching. He now coaches a live trading room and analyzes the market on forextradeplans.com.

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