WEEKLY EURJPY - technicals similar to last week
Last week’s signals pointed to staying short of EURJPY and to selling the rally. These were confirmed as initial gains of almost 1 ½ Big Figs were completely given up. The pullback since September’s 21 month high at 134.43 may be corrective and temporary, but signals for this week are very similar to last, so with this in mind the call is to sell just modestly on the open and then at 132.84, Friday’s opening trade with a stop loss at 133.53, last week’s top. Targets are to 131.74/84/86, the 3 week lows, 131.17, the 50 day average rate and 129.70, the 5 week base.
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