TechnoMeter

EUR/JPY capped off what was an impressively strong 2017 by continuing to show strength in the first few trading days of the New Year. But, after an evening star formed around the close of the first week of the year, prices continued to drop as worries about a ‘stealth taper’ from the Bank of Japan created considerable Yen strength.



This amounted to a pull-back in the previously ebullient trend of EUR/JPY, and as we wrote last week, prices had pulled back to the first of two interesting areas of potential support. That support is derived from a trend-line projection that can be found by connecting the August and November lows from last year; the projection of which runs into December and now January, 2018 swing-lows.

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