[m.youssif]

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday and hit 121.89 earlier today in Asian session. The bias is bullish in nearest term testing 122.29 key resistance area after bounced strongly from a triple bottom formation as you can see on my weekly chart below. A clear break above 122.29 would trigger further bullish continuation testing May 2010 high at 125.44 and April 2010 high at 127.90. Immediate support at 121.20. A clear break below that area would lead us to neutral zone in nearest term testing 120.70 but overall I prefer a bullish scenario at this phase.

[m.youssif]

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday and hit 121.89 earlier today in Asian session. The bias is bullish in nearest term testing 122.29 key resistance area after bounced strongly from a triple bottom formation as you can see on my weekly chart below. A clear break above 122.29 would trigger further bullish continuation testing May 2010 high at 125.44 and April 2010 high at 127.90. Immediate support at 121.20. A clear break below that area would lead us to neutral zone in nearest term testing 120.70 but overall I prefer a bullish scenario at this phase.