[m.youssif]

EURJPY Forecast
The EURJPY was indecisive yesterday but still able to maintain its bearish correction bias and hit 120.17 earlier today in Asian session. The bias is bearish in nearest term testing 119.30 but note that the current bearish intraday outlook should be seen as a counter trend/corrective move and the major bullish scenario remains intact. Immediate resistance at 121.20/40 area. A clear break above that area would lead us to neutral zone in nearest term and could create some upside pressure testing 122.59 but only a clear break above 122.59 could end the current bearish correction phase.

[m.youssif]

EURJPY Forecast
The EURJPY was indecisive yesterday but still able to maintain its bearish correction bias and hit 120.17 earlier today in Asian session. The bias is bearish in nearest term testing 119.30 but note that the current bearish intraday outlook should be seen as a counter trend/corrective move and the major bullish scenario remains intact. Immediate resistance at 121.20/40 area. A clear break above that area would lead us to neutral zone in nearest term and could create some upside pressure testing 122.59 but only a clear break above 122.59 could end the current bearish correction phase.