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FX:EURJPY Falling Wedge of Weekly Chart

Interval: Weekly

eur-jpy-weekly-chart-fallwing-wedge - 30.01.2013

From the chart and a wider fundamental analysis i agree with the fact that the down trend looks to be over. As i said in a recent CHF/JPY post the need for depreciation is obvious but unfortunately the new economical politics will start in 2014 or with luck July this year.

Also a HH is made and the 28 RSI value could show a mega overbought zone for this time. Anyway we need to see a HL in order to confirm the reversal.

The price overlook shows a closing near with a good resistance zone formed with the help of a 50% retrace and a Falling Wedge pattern.

I think this marks the time to keep all eyes on bearish signals.

FX:EURJPY Falling Wedge of Weekly Chart by