Technical Analysis –EURJPY consolidating at 5-year highs
Posted on December 24, 2013 at 11:39 am GMTEURJPY has been in an uptrend since November 8, hitting a 5-year high of 142.88 on December 18. On the daily chart, the 10-day moving average has crossed above the 20-day moving average which is a bullish signal and a good indication that the longer-term trend is intact. EURJPY has approached key resistance at its 5-year high (142.88) and as a result has been consolidating for the past 2 weeks, finding support at 140.90. Above the current 5-year high, 143.50 [..]