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Gold •15 mins	1,866.90	+28.80	+1.57%
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Gasoline •10 mins	2.157	+0.030	+1.42%
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Copper • 15 mins	4.713	+0.059	+1.26%
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Natural Gas • 10 mins	3.139	+0.178	+6.01%
Heating Oil • 10 mins	2.060	+0.024	+1.16%

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EUR/JPY - Old Support Becomes New Resistance

By - Jan 18, 2017, 6:27 AM CST

EUR/JPY is trading mixed. The pair is stalling below former support given at 121.68. Weak demand indicates no near term challenge to range top. Expect to see increasing short-term bearish pressures.

In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

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