EUR\JPY Trading Range

Submitted by ChartSecret.com on Thu, 10/01/2009 - 09:17

A trading range has evolved at the EURJPY pair. Price is strongly bound by two horizontal support and resistance levels: 131.8 and 130.6. These levels have been tested for 3-4 times and are considered highly reliable.

Trading: The main direction is upwards. I expect price to break Resistance - and I would join the trend at the pullback to the broken Resistance level.