EUR/JPY fractal 118.45 – for January 23, 2013 (daily strategy)
The EUR/JPY pair has a very strong bullish trend but it could not hold the level above 1.20. If the Japanese yen exceeds the level of 90, this pair may try to negotiate again above 120 yen per euro, psychological level. But if you look at the chart, the pair has broken the fractal 118.45, so the recommendation is that you can sell below this fractal level with a very tight stop loss at 119. Although we know that this pair will continue rising for a long term. It is more likely that the pair will take a break until the next fractal 113.59. We must be cautious as this pair is very volatile, beware of leverage. On the other hand, if your strategy is to buy, it is recommended to buy at the weekly supports.
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