Morgan Stanley picks EUR/JPY as its technical FX chart of the week, where MS is bearish and looking to sell the pair on rebounds. MS provides the important levels where traders should consider adopting such a bearish strategy, and placing their targets accordingly. On the 10-Year EUR/JPY Chart: "We believe EURJPY traded a major top at the 149.78 level at the end of last year, completing a major b wave rally. This implies that a major C wave decline is now developing. Still within the early stages of this C wave decline, EURJPY is starting to develop a series of impulsive bearish structures. This is consistent with ... (full story)