Recent action at trendlines and Fibonacci price relationships suggest that risk is lower in EURJPY. Resistance for those not yet invoved is 12475-12515. 12100 is a soft target area between the 1/29 low of 12125 and 1/18 high of 12060.
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
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Jamie is the author of Sentiment in the Forex Market.