WEEKLY EURJPY - technicals & trade strategy
Despite the previous week’s rally, last week’s signals for EURJPY continued to point lower and to selling rallies. These were confirmed as initial gains attracted sellers from close to November’s 133.15 high and for sentiment to deteriorate by almost 2 Big Figs from the top. However, for the 2nd week in a row buyers have returned to the market from ahead of 131.11, a 50% pullback to the Aug-Oct gains as well as to the 100 day average rate, sentiment recovering to close unchanged on the week overall. The bounce is just mildly positive, so.....
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