The EURJPY has bounced following a nearly 700 pip decline from the March (and April) high. Structurally, the decline from 11142 is probably wave A within a large A-B-C corrective decline. Within wave A, the bounce from 10461 composes wave 4 and resistance is expected in the 10710/80 zone. I favor shorts into there with a stop above 10850. 10425 and 10350 are bearish objectives. Additional short term GBPJPY strength would present a bearish opportunity (structure is similar to that of the EURJPY). Expect resistance from recent pivots at 12957-13022 (the 20 day average reinforces). The March low at 12654 and 2/23 low at ... (full story)