Euro Versus Yen and Aussie October 24th

FX Strategy Video > Currency Pairs Analysis

EUR/JPY has been stuck in a tight range over the last 4 days, going back and forth form 105 and 107. The market is currently waiting for the weekend's EU summit to pick a direction. If we can close below the 105 level, it is a massively bearish signal. If we close above the 107 level, the sign would be massively bullish.

EUR/AUD is sitting at 1.34 currently, and the market seems to be doing the same thing it is in the EUR/JPY pair - waiting. We need to see what the summits are doing over the weekend to pick a direction. We advise waiting to see the Monday close before buying or selling.

Published on 21st of October 2011
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time