EUR/JPY Weekly Technical Report 25/2-1/3/2013
ecPulse
2013-02-25 07:58AM UTC
EUR/JPY rose retesting the ascending channel's support, as the minor bullishness remained subdued in levels below the correctional downtrend's key resistance. Trading below 125.75 protects chances of the downtrend's return, stability below 125.00 better supports these chances. Since the pair is trading below these levels, we expect to see a fresh bearish attempt this week.
– The trading range expected this week is between the key support at 122.15 and the key resistance at 126.65
– The short-term trend is upside targeting 128.75 if 116.15 remains intact
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