[m.youssif]

EURJPY Forecast
The EURJPY failed to continue its bullish momentum yesterday, bottomed at 110.57 and closed at 110.99. The bias is neutral in nearest term. Although I still prefer a bullish scenario at this phase, we have a rising wedge formation as you can see on my h4 chart below as a warning of a potential bearish pullback especially if price break below the wedge testing 109.85 even lower. On the upside we still need a clear break above 111.91 to continue the bullish scenario testing 112.50/80. I will stand aside for now.

[m.youssif]

EURJPY Forecast
The EURJPY failed to continue its bullish momentum yesterday, bottomed at 110.57 and closed at 110.99. The bias is neutral in nearest term. Although I still prefer a bullish scenario at this phase, we have a rising wedge formation as you can see on my h4 chart below as a warning of a potential bearish pullback especially if price break below the wedge testing 109.85 even lower. On the upside we still need a clear break above 111.91 to continue the bullish scenario testing 112.50/80. I will stand aside for now.