Euro Likely to Fall further versus Yen
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Trade Implications – EURJPY: A contrarian view of crowd sentiment leaves us in favor of continued Euro losses versus the Yen. Yet as with our EURUSD forecast, we think that the risk of a short-term bounce warns against selling the EURJPY at these levels. Instead our Strategist is looking for a test of resistance for the next Euro trading opportunity.
See next currency section:EURUSD - Euro Trend has Turned, Looking to Sell Bounces
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.