As the euro slides further below 1.2400 to 1.2385 EUR/JPY seems to have given up on breaking through the recent high around 148.15. We managed to get 5 pips over but that was the lot and we’re now down over 60 pips to 147.57
EUR/JPY H4 chart 02 12 2014
Short term we’re building up for a move and Thursday’s ECB meeting will probably be the catalyst. Until then we might just walk the range, unless EUR/USD really craps out or USD/JPY takes off.
