Next week, the EUR/JPY cleared a resistance at 101 (upper bound of a short-term bearish channel). This signals an extension of the uptrend and the test of a barrier at 101.65 (June 2012 peak). Breaking above this level would release more upside potential towards 103.52, and possibly towards 105.39 (50% and 61.8% retracements of March to June 2012 downward wave). Initial support at 99.45. (Buy : Stop @ 99.45 ; Target @ 103.40).
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