EUR/JPY:Although the market remains locked in an intense downtrend, daily studies are finally correcting from oversold territory and out from multi-year lows with the market looking to establish back above 100.00. From here, there is room for additional corrective gains, with a break back above 102.55 to officially alleviate immediate downside pressures and potentially open a legitimate trend reversal. Setbacks should now be well supported ahead of 98.00, while only back under 97.00 negates and opens fresh downside. A bullish outside week further confirms short-term constructive outlook.
Joel Kruger
Technical Currency Strategist
DailyFX Research Team
http://www.dailyfx.com
0.25% 
0.25%
1.00% 
1.00%
0.50% 
4.25%
0.10% 
3.00%