Monday, April 20, 2015

EUR/JPY Daily Outlook

Intraday bias in EUR/JPY stays neutral for the moment. As long as 131.28 resistance holds, deeper decline is still expected and break off 126.09 will extend the larger fall to 61.8% projection of 149.76 to 130.13 from 136.67 at 124.53 next. However, break of 131.28 will indicate near term reversal and turn focus back to 136.67 resistance instead.

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