07 June 2012 05: 28 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 basis from current level is not to be ruled out. Look for a break and closed 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 basis from current level is not to be ruled out. Look for a break and closed back above 100.00 to help reaffirm our bullish outlook.
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