EURJPY At Big Weekly Resistance Level

EURJPY Weekly

A big weekly resistance is coming up in EURJPY. This resistance area spans from current level to 114.30/40. 

This area has provided good resistance previously and has been a good support when broken. 




200EMA is just above the current level. Its a good area for long term players to build long term short positions with stop just above 200EMA.

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Update on 28-Dec-12 3:35GMT: I went short EURJPY at 114.48 for half of the normal size. I plan to add more till 115.