EUR/JPY Forecast December 27, 2012, Technical Analysis
The EUR/JPY pair gapped higher on Wednesday as we continue to see Yen weakness across the board. We are now firmly above the 112 level and as such we feel that we are making it a move towards the 115 level. We do feel that the 110 level is the
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The EUR/JPY pair gapped higher on Wednesday as we continue to see Yen weakness across the board. We are now firmly above the 112 level and as such we feel that we are making it a move towards the 115 level.
We do feel that the 110 level is the “floor” in this marketplace, and as long as we are above that we simply will not sell this pair under any circumstances. We could see a pullback though at the moment and a retest of the 112 level for support because of the gap, but we figure that’s about as far as the bearishness will go in this market.
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