Price action on EUR/JPY is continuing to display its bearishness after breaking down below a key parallel uptrend channel two weeks ago. After the channel breakdown, price found its downside target and stalled just above the major 126.00 support/resistance level. For more technical analysis on this currency pair, please click here for Monday’s (4/27/2009) Chart of the Day.
UPDATE: As of Monday (4/27/2009) afternoon in New York, price has tentatively poked below 126.00 on some significant euro bearishness. More updates to come as price action develops further.
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