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Gold •15 mins	1,606.30	+14.90	+0.94%
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Silver • 15 mins	14.11	+0.12	+0.87%
Copper • 15 mins	2.172	-0.003	-0.14%
Brent Crude • 2 hours	24.74	-1.61	-6.11%
Natural Gas • 11 mins	1.590	+0.003	+0.19%
Heating Oil • 16 mins	0.944	+0.011	+1.22%

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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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