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EURJPY Rally Turned Back at Daily Pivot R1

Friday, 07 November 2008 15:15:57 GMT | Jamie Saettele, Senior Currency Strategist

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Friday, 16 October 2009 16:40:51 GMT EURGBP Short Term Decline Overdone
Thursday, 15 October 2009 22:59:12 GMT USDCAD Rally Just a Correction
Thursday, 15 October 2009 21:11:29 GMT Daily Pivot Points
Thursday, 15 October 2009 07:56:53 GMT EUR/USD Sell Recommendation Issued @1.5035 (Daily Classical)
Wednesday, 14 October 2009 21:09:33 GMT Daily Pivot Points
Wednesday, 14 October 2009 06:46:55 GMT Euro Surge Exposes Psychological Barrier (Daily Classical)
Tuesday, 13 October 2009 21:26:26 GMT EURGBP Rolls Over
Tuesday, 13 October 2009 21:26:23 GMT Daily Pivot Points
Tuesday, 13 October 2009 07:47:43 GMT Euro Double Top Prospects Intact (Daily Classical)
Monday, 12 October 2009 21:00:42 GMT Daily Pivot Points
Monday, 12 October 2009 07:35:23 GMT Euro Carving Double Top (Daily Classical)
Friday, 09 October 2009 01:07:54 GMT Dollar: Something Has to Give
Thursday, 08 October 2009 21:06:02 GMT EURJPY Looks Constructive
Thursday, 08 October 2009 21:01:54 GMT Daily Pivot Points
Thursday, 08 October 2009 06:28:39 GMT Prospects Fade for USD Bulls (Daily Classical)
Wednesday, 07 October 2009 21:47:48 GMT GBPUSD Triangle Pattern Before BoE
Wednesday, 07 October 2009 21:07:26 GMT Daily Pivot Points
Wednesday, 07 October 2009 06:41:58 GMT Euro Stops Narrowly Averted (Daily Classical)
Tuesday, 06 October 2009 06:56:11 GMT USD Convictions Being Tested (Daily Classical)
Monday, 05 October 2009 21:08:32 GMT Daily Pivot Points

The EURJPY spiked into 126.38, which happens to be pivot point resistance 1 on a daily basis. Resistance is reinforced by a former support line drawn off of lows on 10/31, 11/4, and 11/6. Relatively, the EURJPY remains at the top of its recent range; the EURJPY is vulnerable to weakness below 122.44 and an eventual drop below 120 early next week.

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