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27 Jan 2015
EUR/JPY making an advance on to 134 handle
FXStreet (Guatemala) - EUR/JPY is currently trading at 134.02 with a high of 134.06 and a low of 132.49 and up 0.44% on the day.
EUR/JPY is "steady as she goes" on the bid up to test the 134 space and completing an almost 400 pip move since the opening bearish gap at the start of the week.
Further on, should the pair manage to attract further demand against the grain, which is EUR 'given' for the most part, according to the analyses by Karen Jones, chief analyst at Commerzbank, the market will find initial resistance at 134.80/137.65 (Fibo) and ahead of the 55 day ma at 139.99. "The Elliott wave count on the daily sis suggesting that near term strength is corrective only."
EUR/JPY is "steady as she goes" on the bid up to test the 134 space and completing an almost 400 pip move since the opening bearish gap at the start of the week.
Further on, should the pair manage to attract further demand against the grain, which is EUR 'given' for the most part, according to the analyses by Karen Jones, chief analyst at Commerzbank, the market will find initial resistance at 134.80/137.65 (Fibo) and ahead of the 55 day ma at 139.99. "The Elliott wave count on the daily sis suggesting that near term strength is corrective only."