Lets move on to the favorite currency for a lot of traders due to its slow and predictable movements, the EURJPY. As can be seen from the daily chart, it has broken thru strong supports and it has good support below at 128.1. This should prove to be a strong support and with strong resistance between 131.25 and 132, i believe that the coming week would see ranging between 128 and 132 for this pair unless something very drastic happens.
The weekly chart shows a strong support at 125 but i doubt whether the price would reach there just yet !!
unless we see big down move USD/JPY which I doubt at present, below 1.2780-1810 unlikely though next week is a big week we have seen a temporary disconnect between the inverse relationship yen and equities particularly Nikkei but as to how long this last?!
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