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Blackday: EUR/JPY: Short at 139.80 - Watch 139.41 for break |
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Sunday, November 06, 2005 |
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As the cross encroaches on 141.63, the peak from Dec 31, 2004 and the highest level seen since Dec '98 and against a backdrop of waning upside momentum over the past month, keep a watchful eye on supports for signs of vulnerability necessary to undermine the up-trend pattern of higher highs and higher lows originating from 134.54, 15 Sep low.
Accordingly, today's break of Friday's 139.83 low provides an early sign of further impending weakness and sets the scene for extended weakness towards 136.97, the low from 13 Oct. Following the sell-off, a recovery beyond Friday's 141.19 high is now required to offset the bearish tone necessary to relieve the broader bearish threat resulting from yesterday's 'outside day'. EUR/JPY: Watch for break below 139.41 
EUR/JPY: LT T'line 
EUR/JPY
November 2005
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Last Updated ( Friday, December 09, 2005 )
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