- Overnight Interest Rate Update 03.18.10 Thu, 18 Mar 2010 10:37 GMT
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- Mar, 18 EUR/JPY Classical 03.18
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EUR/JPY – Rallies have stalled out by 138.50 with the market finding some formidable resistance by the top of a very well defined range that has defined trade over the past several months. Monday’s strong bearish outside day has resulted in an acceleration of declines with the market trading back into prominent range. Next support comes in at 131.70, with any rallies expected to be well capped ahead of 135.00.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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