EUR/JPY 1H short

10 בספט׳ 2012

EUR/JPY was a big winner on Friday with the ECB announcement and it looks as if it overextended itself ahead of the German court ruling. RSI has a little more room south to run and the slow moving stochastic line hasn't rolled over yet. Pair could target its previous resistance at 99.00 and then trend line support at 98.55 and 98.20. Target these levels, stop above 100.40.