Chart of the Day: EUR/JPY.

Summary: With most currencies pairs trading in a range bound situation, or directionless as some would call it. The EUR/JPY may be showing a real trend change.

With most currencies pairs trading in a range bound situation, or directionless as some would call it. The EUR/JPY may be showing a real trend change. The breakout up through resistance, determined by highs going back to last year, means this market may be ready to run to the upside. Since the Bank of Japan prefers a weaker currency value for the JPY to help keep their exports competitively priced, it would appear that this move up has the central bank's support. No trade setup as of yet, but this pair is worth watching this week and next.

2009 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company

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