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Forex: EUR/JPY ‘dominant uptrend remains in play’ - FXWW

By FXstreet.com,  January 15, 2013, 05:44:00 PM EDT

FXstreet.com (San Francisco) - The EUR/JPY surge failed at 120.00 resistance yesterday on profit-taking, closing down 1.3% at 118.11 s. 119.71, and ending lower after four consecutive days of gains. "The dominant up-trend remains in play and last night's fall stopped at the 38.2% retracement level and this level should now attract buying interest," comments Sean Lee, Managing Director of FXWW. "A clean break below there targets 116.00/10."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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