The daily EUR/JPY chart shows a market that has completed an ABC correction with C=A wave equality. It is also just above 50% retracement of the decline from 111.60 to 97.02. The RSi has broken above 60, showing loss of bearish momentum. As the market trades higher, the EUR/JPY is nearing key resistnace levels. A declining trendline (going back to April 2011) lies just above. There is a pivot near 105.67, above which, 106.03 is 61.8% retracement. While the EUR continues to be pressured fundamentally, the JPY also has fundamental changes this week that weakens it in the form of an expanded Asset Purchase Program (QE). ... (full story)