FXWW News/JPY crosses/Technical Analysis

EUR/JPY: Trading at long-term technical resistance level

EUR/JPY has made more gains in early interbank trade and is currently trading near 141.20. The 61.8% retracement of the huge downmove from 169.50 to 94.00 has been marginally breached (see chart).

Elsewhere, EUR/USD is at 1.3700, cable is at 1.6350 and AUD/USD is trading near .9120.

Good luck this week.

  1. Sean, looking at the weekly and daily chart still makes me think your 120 target is not off the table it’s just how far it can rise first, that’s the difficult one. Cheers,
    Susanna

  2. I’ve given up on that a long time ago Susanna, timing is everything and the market is concentrated on the other side. Lets wait for some reversal patterns and then considering spending some IP and capital on that trade.

Leave a Reply

Your email address will not be published. Required fields are marked *