Mar 20, 2013
Forex: EUR/JPY demand at 121.60/90 holds; watch all the supply overhead
Having retraced over 50% of its Monday's recovery, the EUR/JPY failed to maintain the upward steeping formation aimed at closing Monday's major gap, and after faced with 124.00, a new wave of selling pressure knocked the rate back down sub 122.00 as headlines crossed the wires that Cyprus had rejected the unpopular bank levy.
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