EURJPY Forecast
The EURJPY failed to continue its bearish bias yesterday and now traded above 116.00 resistance area. The bias is bullish in nearest term especially if price able to make a clear break above the minor trend line resistance (red) and 116.88 testing 117.50 even 119.25 resistance area. However, as long as price moves below the major trend line resistance (white) the bearish scenario since the fall from 123.31 should remain intact. On the downside, another move back below 116.00 would keep the bearish scenario remains strong testing 114.00 support area.
