Monday, January 14, 2013

EUR/JPY Technical Analysis - 14 January 2013


EUR/JPY 14 January 2013

EUR/JPY Technical Analysis - 14 January 2013

The currency pair is gradually slowing down ahead of 120.40, somewhat losing its bullish momentum following a breach of 117.90/39. This area, which is now supporting the price, is supposed to end the bearish correction that is emerging at the moment.

A deeper extension, however, is still possible and could drag EUR/JPY down to 115.44/114.90, a most likely point of contact with the rising trend-line in such a scenario. Read more