In an overall choppy market I will look for prior resistance levels (after a rally) for where the bears will step in to take advantage of possible exhaustion. I’m sure plenty of bears looked for the EUR/JPY to sink back through 102.00 (it couldn’t) and now with 104.00 acting as near-term term resistance, bears will once again look for the pair to sink lower through 103.50. I will explain which time frame to watch now… The EUR/JPY has continued to rally higher - driven by yen weakness - for a second straight session. Since this pair has not Directional Bias I continue to be hesitant to commit to trades on time frames ... (full story)