EUR/JPY is holding on by a thread here ahead of 162.50 which lies the pivot. Outlook remains neutral. Downside pressure should increase if we hold below 162.25 again today. With pressure mounting on Asian equity markets and soon on European equities, that does not bode well for JPY crosses.
Thursday, May 22, 2008
Here's Looking At The Chart
EUR/JPY is holding on by a thread here ahead of 162.50 which lies the pivot. Outlook remains neutral. Downside pressure should increase if we hold below 162.25 again today. With pressure mounting on Asian equity markets and soon on European equities, that does not bode well for JPY crosses.
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