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Forex Trading: Euro/Yen Intra-Day

Posted by Joseph Trevisani on Apr 9, 2013 12:13:00 PM

Euro-yen, at 129.69  (12:28 pm ET) has picked up steam in the past 45 minutes along with the euro. Medium offers which were in at 129.55 and 129.70 were taken out easily and may provide limited support  if the pair comes off. 

Immediate resistance at 130.05 and 130.50. The rapid upward movement of the cross  in the past four months has outstripped all moving averages.

The cross topped out at 129.94 overnight in Asia.

WorldWideMarkets & Market News International

 

Chart: Bloomberg

ScreenHunter 922 Apr. 09 12.26

 

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