SPOT EURJPY - profit taking pullback underway
Wednesday’s signals for EURJPY continued to point higher, but despite posting a fresh 18 month high at 132.02, sellers have returned to the market sentiment posting a loss of over ½ Big Fig. A failed rally in Asia this morning is negative and with signals turning negative the outlook for Thursday is to sell on the open and then at 131.69, today’s Asia high with a stop loss at 132.02, yesterday’s top. Targets are to 131.00, a 38% pullback to September’s gains, 130.69, a deeper 50% correction and 129.70, this week’s base.
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