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Forex Trading: EURJPY continues higher

Posted by Greg Michalowski on Wed, 06/25/2008 - 11:26pm in

 

The EURJPY continue to move higher as investors like the yield differential of the high yielding EURO versus the weakening Japanese economy where rates may not be coming down, but the chances of rate increases are not on the horizon. 

The pair will use the 168.92 as the level to hold on the downside.  If the market moves back below this level, the market should back off.  Until then, the trend stays in tact.