The EURJPY rebounded off the 100% extension taken from the decline off the December 2014 high with todays outside reversal day shifting our near-term focus back to the shelter deck. A breach on top of the weekly gap vary is required to validate the scalp bias with such a situation eyeing resistance targets. Note that the broader outlook remains weighted to the draw back and that we would inevitably look to sell this advance- a rally into 137.67 would have U.S.A. craving for short-triggers.


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