Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURJPY reversed from resistance level 130.00
• Likely to reach support level 127.30
EURJPY recently reversed down from the resistance level 130.00 (previous upward target) – intersecting with the resistance trendline of the daily up channel from November.
The downward reversal from the resistance level 130.00 started the active minor correction (ii).
EURJPY is likely to fall further toward the next support level 127.30 (low of the previous correction iv and the target for the completion of the active wave (ii)).
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