EURJPY reached a high of 168.8942. This represents a drop in price within 100 pips of the highest price dating back to July 2008 at 168.941. Trading above this level would take the pair to its highest level since September 1992.
Traders could look to build against the 2008 high ceiling area with stops on a breakout above (see the red number circles in the yellow area on the chart above). However, if it’s like USDJPY, be careful.
USDJPY moved above the 155.00 level this week (Wednesday) and, aside from a surge immediately after the rate decision today, has been trending higher. USDJPY price is currently trading at 157.864
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