Eur/Jpy

Any pullbacks below 110.00 continue to be very well supported by the previous multi-day resistance area from May 2010 through February 2011

Euro retreat from day high at 111.25 has extended below t 5-month low at 108.70, reaching 108.50, weighed by concerns about a downgrade of France's debt rating, and the share suspension of Italian bank Intesa Sanpaolo.

With 112.34 minor resistance intact, further decline is still in favor in EUR/JPY for 108/70 support first. Break will confirm resumption of whole fall from 123.31 and should target 105.42/106.28 support zone first. On the upside,

If a M15 close above 109.37 buy only and do not sell. If price closes back below it again do nothing.

If a M15 close below 108.47 sell only and do not buy. If price closes back above it again do nothing

The range 109.37 and 108.47 is neutral area, any trade done in between is personal decision and not part of this analysis

Look for a fresh medium-term higher low to carve out around 110.00 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.

Japan may cut its growth forecast for the year ending March as the government will reduce the forecast to 0.5% from a previous 1.5% estimate.
BoJ is mulling additional easing measures to support the market according to the japan newspaper

There are two attempts that failed to close below this in the 1H chart. Both attempts have resistance near 109.40. A break above 109.40 completes a double bottom . 109.50 resistance represents an intraday pivot and a break above that adds to evidence of a bullish swing to follow.

the pair and as we can see from the chart is trading now above the level of 108.00 , so when ever the pair success in breaking 108.00 , that's mean the down trend will be assured and the pair might head to 107.60 and then 107.20

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.

the pair has succeeded in closing it's daily candle above level 109.00 , and that's mean the up trend is still standing and the pair might head to 109.50 and then 109.70