EUR JPY is confused 31/1/2013
Economies.com
2013-01-31 07:56AM UTC
The pair accomplished a breach above 38.2% Fibonacci at 123.00 to hit the bullish channel resistance level at 123.90 as appears in the chart, to stand confused between these levels by settling at 123.30 since the morning trading.
The fluctuation is expected in the near period between 121.70 and the resistance level, to keep the pair within the bullish channel, conditioned by the stability of the channel support level at 117.65.
Expected trading range is between 121.70 and 124.00
Expected trend: sideways
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