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Special Focus – EURJPY

EURJPY: Still Faces Bear Threats EURJPY- The cross’s decline is not over yet as it is vulnerable to the downside. This leaves the risk of retargeting the 99.51 level on the cards. It may see a respite here and turn higher. Further down, support lies at the 97.80 level where a break will call for a push lower towards the 95.72 level. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to return above the 103.65 level. This will annul its present weakness and open the door for upside towards the 104.42 level. All in all, EURJPY remains biased to the upside in the short term.

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