EUR/JPY has wavered between negative and positive territory today but the latest push is to the upside. Yesterday’s high of 147.39 was briefly breached.
EURJPY 10 minute chart
Strategists at Barclays recommend selling EUR/JPY near current levels, targeting a move to 142.10 and a stop at 148.50. They expect declines ahead of the ECB meeting on Dec 4 and the Japanese elections 10 days later.
Offers at 147.50 in medium size with more at 147.78, which is the 61.8% retacement of the Nov 20-24 decline and a key level on my charts. More sellers at 148.00 and 148.33.
Bids at 146.50, which was the intraday low today. More at 146.30 and just below.
