Technical Analysis EUR/JPY 07/10/12

EUR/JPY 4 Hour Chart, 05:00AM EDT 07/10/12

Hello, It is been a long time since my last post. Anyway I am back to bring you my latest intraday technical analysis.

Here we have the EUR/JPY 4 Hour Chart, we all know Euro is very bearish actually due to financial crisis and Greece at the brink of collapse.

However  we could see a technical movement to the upside, indeed we spotted a 4 hour bullish divergence on the RSI.

So my trade idea is to long the EUR/JPY @ 97.60 and stop @ 97.20. I will look for "just a 50 profit target since we still under an overall bearish market.

Good Trading!!!