EUR/JPY Daily Outlook

Jul 21 2010

EUR/JPY continues to struggle in tight range below 113.40 resistance and intraday bias remains neutral. On the upside, sustained trading above 113.40 resistance and 55 days EMA (now at 113.44) will indicate that a medium term bottom is formed at 107.30 and stronger rise would be seen towards 38.2% retracement