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EURJPY hits fresh 15-year high as yen gets smoked
EURJPY has been grinding higher, hitting its best levels in 15 years earlier today. The series of higher highs and higher lows remains in place, keeping the pair in a clear uptrend. As a testament to how powerful the rally has been, the pair is trading near its upper Bollinger band and well above its longer-term moving averages (MAs). Similarly, momentum indicators such as the RSI and the MACD are flashing bullish signals, although neither is at extreme levels yet. Another push higher could encounter some resistance near the 161.70 area, defined by the inside swing high in February 2008. If the bulls charge ahead, ... (full story)