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

 @ibtimes
on February 23 2010 4:40 AM

125 acted well as resistance and bearish movement occured. The parity is still moving into its bearish channel and is currently testing the lower band. 123.65 is still support. However, we maintain to trade only short positions as far as 125 is resistance. The break out of 123.65 will confort our bearish feeling on the parity and will offer a new sell signal. But, if 125 is broken, a buy signal will be given.

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