EUR JPY achieves the negativity 23/1/2013
Economies.com
2013-01-23 08:00AM UTC
The pair accomplished a clear negativity in yesterday’s trading by forming a bearish wave reaching to 117.25 to make the price stop at this level holding with the bearish wave.
In case breaking 117.25, the price will approach from 50% Fibonacci at 116.50 which formed an obstacle against the price decline recently as appears in the enclosed chart.
We recommend the sideways trading for today due to the limitation of the trading in tight range, until getting a confirmation for the true trend during the near period.
Expected trading range is between 116.50 and 118.10
Expected trend: neutral
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