Technical Analysis – EURJPY pauses downside bias and consolidates
Posted on February 6, 2015 at 8:25 am GMTEURJPY has been hovering around the 134.25 level, either below or above it, after bouncing from 130.13. A further bounce to the upside would be limited by resistance at 137.62, at which point we could see a resumption of a decline. Meanwhile, a move to the downside from current levels would see a retest of the low at 130.13. A break below this would target the long term Fibonacci retracement level (38.2%) of the upleg from 94.09 to 149.76. This [..]