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Analysts: long on EUR/JPY

EUR/JPY has hit a fresh 4-year high of 139.13 on Thursday. The next near-term resistance for the pair lies at 139.22 (2009 high)

According to analysts at ANZ, EUR/JPY targets 141.00 and 145.00. "The relative dynamism of the current rise through 135.00 underscores the bias that JPY weakness is on the verge of becoming a key feature into 2014. Interim dips should hold above 135.00 (ideally above 135.95) in order to maintain the potential for an early drive through the next resistance levels of 138.50 and 141.00 towards a target of 145.00."

Danske Bank holds a long on EUR/JPY from 137.40 with a target of 140.90 and a stop at 137.65. 

Chart. H4 EUR/JPY


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