EUR/JPY is moving toward

EUR/JPY is moving toward the top of a band that has held since Oct. '08 and while there is no guarantee this will continue to hold, a sustained break above 130.00 is unlikely this week says Mizuho Corporate Bank's Nicole Elliott. That said for a trading strategy she favors small longs at 126.90 with a stop below 123.75, adding at 127.75 for 128.50 and possibly 130.00. EUR/JPY now at 127.42.