8 Apr 2015
EUR/JPY: Next rebasing support zone at 129.60/46 – FXMarketAlerts
FXStreet (Barcelona) - The FXMarketAlerts Team expects EUR/JPY to base around 129.60/46 before resuming to the upside.
Key Quotes
“EUR/JPY still probing around 130 at this hour has yet to find a decent level to stage another range rally.”
“Hourly chart pattern still looks a bit weak at this hour, so there is risk that this mkt works toward the 129.60/46 support zone before attempting to rebase. Provided the mkt can turn up again at the 129.60/46 zone, the rally potential is back up through 130.40/50.”
Key Quotes
“EUR/JPY still probing around 130 at this hour has yet to find a decent level to stage another range rally.”
“Hourly chart pattern still looks a bit weak at this hour, so there is risk that this mkt works toward the 129.60/46 support zone before attempting to rebase. Provided the mkt can turn up again at the 129.60/46 zone, the rally potential is back up through 130.40/50.”