EUR/JPY technical analysis for August 29, 2013


Since the tension in Syria Crude Oil has been moving higher. However, in the west side the market participants are waiting for the "tapering" issue to be solved. This make a "Risk Aversion" in the market especially in the stock market. All the market participants take the money from the emergeing markets such as India, Thailand, Indonesia, etc. to get back the safe haven US Dollar. This condition makes USD stronger than any currency. EUR has got the impact from this issue.

RECOMMENDATION:
SELL Stop (Pending Order) at 129.74.
Take Profit at 129.60.
Stop Loss at 129.84.

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