06 June 2012 06:18 GMT
EUR/JPY:Setbacks have finally stalled out ahead of 95.00 and with daily studies violently oversold, the market is now looking for a healthy corrective bounce. However, we still contend that this corrective bounce could develop into something more significant, and prospects for a major longer-term base from current level is not to be ruled out. Look for a break and close back above 100.00 to help reaffirm our bullish outlook.
EUR/JPY:Setbacks have finally stalled out ahead of 95.00 and with daily studies violently oversold, the market is now looking for a healthy corrective bounce. However, we still contend that this corrective bounce could develop into something more significant, and prospects for a major longer-term base from current level is not to be ruled out. Look for a break and close back above 100.00 to help reaffirm our bullish outlook.
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