The EUR/JPY is starting to rally again after a brief consolidation seen in the 1H chart since 9/6. The breakout occurred during the 9/12 European session, when the German court ruling basically gave the ESM a go. The euro firmed across the board. EUR/JPY had a brief retest of the consolidation zone, but bounced back up to confirm the breakout. The next key resistance lies in the 101.35-101.65 area, the highs in June’s during a consolidation period. Note the 200-day SMA just above this resistance area. As the daily and 4H RSI climbs above 70, and the market approaches these key resistance levels, maybe we should ... (full story)