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25 Nov 2013
EUR/JPY touches Fibonacci projection at 137.90 and backs off temporarily
FXstreet.com (Barcelona) - The EUR/JPY has been on a beautiful run higher recently and appear to technicians to be headed to much higher targets. To do so, ST resistance at 137.90 will have to be conquered.
EUR/JPY traders to be watching Kuroda speech for any surprises
EUR/JPY traders have continued to ride the recent trend higher – although the cross is off the session highs- as they await the Bank of Japan’s Kuroda to give a speech in the next hour or so.
Technical outlook for EUR/JPY
Technicians say the EUR/JPY bumped its head into the first potential upside target (after the recent breakout above “correction resistance”) at the Fibonacci projection line of 137.90. If the cross breaks through that level, 139.05 will be the next target. Support comes in at today’s low of 137 and is backed up by Friday’s low of 136.
EUR/JPY traders to be watching Kuroda speech for any surprises
EUR/JPY traders have continued to ride the recent trend higher – although the cross is off the session highs- as they await the Bank of Japan’s Kuroda to give a speech in the next hour or so.
Technical outlook for EUR/JPY
Technicians say the EUR/JPY bumped its head into the first potential upside target (after the recent breakout above “correction resistance”) at the Fibonacci projection line of 137.90. If the cross breaks through that level, 139.05 will be the next target. Support comes in at today’s low of 137 and is backed up by Friday’s low of 136.