The EUR/JPY is currently hitting the bottom of the 120 area that was has been so important lately, as it is resistive and could represent a break out if we can get a close above it. The pair currently looks happy to sit still, but on a close higher than 120 there should be more buyers stepping in. A breakdown below could see 115, which should massive support as well. Selling runs the risk of fighting central banks as they have recently been involved in this pair.
Originally posted here
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