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EURJPY bounces off 200 Day MA, but sellers above 130.20

By   || October 2, 2009 at 02:37 GMT
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Seems the market is respecting the 200 day MA at 129.60, with a nice bounce of that over the last couple of hours, after tripping stops below 129.80. There has been some short covering off the lows and Tokyo fix demand earlier, for a push back up towards 130.20. However, im hearing sellers above 130.20 looking to reinstate intraday shorts. EURJPY has not traded below its 200 day MA since July 8th, so its the line in the sand for many.

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