[m.youssif]

EURJPY Forecast
The EURJPY was volatile but indecisive yesterday and now traded above 108.33 indicates potential further bullish consolidation in the last day of 2010 testing 108.85 and 109.50. Overall we are still in major bearish scenario and only a clear break above 109.50 could be a threat to the bearish outlook. On the downside, another move below 108.33 could trigger further bearish attempt testing 107.30 and keep the bearish scenario remains strong. Happy New Year! May we all have a more profitable year.

[m.youssif]

EURJPY Forecast
The EURJPY was volatile but indecisive yesterday and now traded above 108.33 indicates potential further bullish consolidation in the last day of 2010 testing 108.85 and 109.50. Overall we are still in major bearish scenario and only a clear break above 109.50 could be a threat to the bearish outlook. On the downside, another move below 108.33 could trigger further bearish attempt testing 107.30 and keep the bearish scenario remains strong. Happy New Year! May we all have a more profitable year.