EUR/JPY Weekly Outlook

Mar 6 2010

EUR/JPY's rebound from 119.64 accelerated on Friday and the strong break of 122.60 resistance indicates that a short term bottom is formed with bullish convergence condition in 4 hours MACD. More rise could now be seen towards 125.22 cluster resistance (38.2% retracement of 134.36 to 119.64 at 125.26). But we'd...