EUR/JPY analysis of the week (4h candlesticks)

on January 12 2010 4:39 AM

The parity EUR/JPY just tested a break out of its resistance at 134. 133 seems to act as support. As far as the price is above this level, we maintain to trade only long positions. A break out of 134 will offer a new buy signal. If 133 is broken, the price should pursuit its bearish movement towards 132 but between 132 and 133 we stay neutral on the parity.

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