EURJPY Market Update for 07-31-12

EURJPY: Nothing new to report on other markets except Euro-Yen. We expect a little bounce to 96.45 to .96.75 on EURJPY, then likely a sell off to either the lower pitchfork near the 94.70-65 area, or just below the center Modified Schiff Line at 95.60, then a larger rally to 98.70 to 99.68. See the 240-minute chart below with the complete analysis.

eurjpy 240-min chart with analysis

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