EUR JPY settles in sideways range 30/1/2013

Economies.com
2013-01-30 08:26AM UTC

The pair declined yesterday to reach 121.20 level, closing again near the resistance line represented by 38.2% Fibonacci at 123.00

 

We expect correctional bias again as long as the mentioned resistance remained intact, and the price might fall to the first support line at 120.00 in the near term, while the general trading will remain positive by settling above the major support line at 118.00

Expected trading range is between: 120.00 and 123.00

 

Expected trend for today: Bearish

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