[m.youssif]

EURJPY Forecast
The EURJPY had a significant bearish momentum yesterday, broke below the triangle formation as you can see on my h1 chart below suggests a bearish technical bias at least targeting 112.50 in nearest term before testing 110.80 in longer term as the upside scenario might have failed now after the failure to maintain position above 114.00. Immediate resistance at 113.50. A clear break above that area would lead us to neutral zone in nearest term testing 114.00 but only a clear break above 114.68 would continue the bullish scenario targeting 116.35. Note that the price movement seems to be remains under the influence of Tsunami impact and nuclear crisis in Japan. Although risk aversion sentiment will likely to dominate and keep support broad Yen strength, this kind of sentiment can change quickly anytime.

[m.youssif]

EURJPY Forecast
The EURJPY had a significant bearish momentum yesterday, broke below the triangle formation as you can see on my h1 chart below suggests a bearish technical bias at least targeting 112.50 in nearest term before testing 110.80 in longer term as the upside scenario might have failed now after the failure to maintain position above 114.00. Immediate resistance at 113.50. A clear break above that area would lead us to neutral zone in nearest term testing 114.00 but only a clear break above 114.68 would continue the bullish scenario targeting 116.35. Note that the price movement seems to be remains under the influence of Tsunami impact and nuclear crisis in Japan. Although risk aversion sentiment will likely to dominate and keep support broad Yen strength, this kind of sentiment can change quickly anytime.