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Forex Flash: EUR/JPY potential as high as 131-141 area - ANZ

By FXstreet.com,  January 15, 2013, 08:11:00 PM EDT

FXstreet.com (Barcelona) - According to the FX research team at ANZ, price action in EUR/JPY highlights potential for a shift back to pre-2008 crisis levels; "although patterns implying JPY weakness are consistent across all crosses, the break in EUR/JPY of a descending wedge and weekly Ichimoku cloud in late 2012, there is potential for moves through a standard (38.2%) retracement of 123 followed by moves into area of previous resistance, congestion and larger retracements between 131-141..." ANZ notes.




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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