Welcome to our 42nd. edition of Currency Corner. In Today's edition we be focusing on the daily time frame of the EUR/JPY. The EUR/JPY is exhibiting characteristics of a near term top as a bearish divergent pattern may be forming from the January 26th. pivot high of 102.19 to the most recent high of 103.27. A close below 102.19 will confirm the formation with the 40 day average which resides at 99.90 as the first downside objective. A piercing, however, of 103.27 will keep the bullish posture of the market intact with 105.68 as the next upside objective. The Timing Oscillator has traveled through the 90 sell zone and momentum continues to build to the short side suggesting more downside price activity is on the horizon | DailyFX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room at FXReturn.com. Please click the following link to view our research:Currency Corner Created with Camtasia Studio 5
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