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EUR/JPY giving back this morning’s gains: 117.50 now support level

I know that’s a long way away but we can expect heightened volatility for next few sessions. 120.00 has more or less capped this pair leaving it susceptible to profit taking moves and there isn’t much in the way of support until 117.50, according to interbank order books. Intraday bears can contemplate selling tight rallies with a stop clearly above this mornings high.

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4 Comments

  1. rehan2013-01-14 19:59 Reply

    hy sean,how r u?any target for eurojpy?and abe asking 2% inf target for usdjpy. what the target he set 95 or 100 2% inf or not?plzz answer.and where the china sit for this move higher jpy

  2. Sean Lee2013-01-14 20:02 Reply

    Hi Rehan, its a 2% inflation target, not directly connected to USD/JPY rate. EUR/JPY still overall bullish but always fear of pullbacks, I’d suggest 11750ish now base and target around 12250

  3. rehan2013-01-14 20:11 Reply

    and usdjpy target is?

  4. Jack12013-01-14 23:32 Reply

    Due to holiday, I haven’t made any pip from u-jpy good run up. I wait for a pullback to 84.50 to 83.50 zone to buy, then, target 94 level. Market makers or hedger or supply(er) need 84 level to take their stuffs back, otherwise, they would go broken, which is less odd.

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