EUR/JPY has wavered between negative and positive territory today but the latest push is to the upside. Yesterday's high of 147.39 was briefly breached.
Strategists at Barclays recommend selling EUR/JPY near current levels, targeting a move to 142.10 and a stop at 148.50. They expect declines ahead of the ECB meeting on Dec 4 and the Japanese elections 10 days later.
Offers at 147.50 in medium size with more at 147.78, which is the 61.8% retacement of the Nov 20-24 decline and a key level on my charts. More sellers at 148.00 and 148.33.
Bids at 146.50, which was the intraday low today. More at 146.30 and just below.
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