EUR/JPY stayed in tight range below 125.09 last week and initial bias stays neutral this week first. But based on overall development in yen crosses, EUR/JPY’s rebound from 118.62 will likely turn out to be stronger than expected. On the upside, break of 125.09 will bring further rise to 55 day EMA (now at 126.75) and above. On the downside, break of 123.40 minor support will turn bias back to the downside for retesting 118.62 low instead.


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