EUR/JPY - Euro Yen, European Session - 29/01/08

on January 29 2008 12:44 AM

157,47. EUR JPY is in a range between 155,70 and 159,00. EUR JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 155,70 / 159,00 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
158,50 - 159,00
Supports
157,00 - 155,70

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