Eur/Jpy

break of said support at 108.01 is needed to signal recent decline is still in progress as 2nd c leg of wave B for weakness to 107.50 but reckon support at 106.50 (this year’s low) should hold.

the chart is showing that the pair has closed it's daily candle under the level of 110.00 , and that's mean that the down trend is still standing and the pair might reach 109.00 and then 108.70

Intraday bias in EUR/JPY remains mildly on the downside for 108.01 support. Break there will confirm resumption of the whole fall from 123.31 and should target 105.42/106.28 support zone

Given the 3 wave structure from the low, I am leaning towards the bear side. Short term resistance comes in at 110.90

EUR/JPY's break of 111.63 minor resistance confirms that choppy recovery from 108.01 has resumed. Intraday bias is back on the upside towards 114.17 resistance.

Look for a fresh medium-term higher low by 108.00 ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a break back below 108.00 concerns.

Bears now looking to completely retrace the 11-29 Aug rise, risking back to 108.01. Below here opens the way for a re-test of the 10 Jan low at 106.83 in due course. Res is at 109.87/110.06. Above 110.44 stabilises.

The spot rate is currently testing the lower limit of its medium term bearish channel in 109.50 suggesting a rebound. However a break of these levels would initiate a bearish trend more violent.

The euro is losing further ground against its Japanese counterpart as investors favor the yen as a safe haven asset during times of global uncertainty and as fears of a spreading euro-zone debt crisis persist.

Look for a fresh medium-term higher low to carve out around 110.00 (above 108.00) ahead of the next major upside extension back towards and eventually through the recent highs by 123.35. Ultimately, only a sustained break below 110.00 concerns.