By FXEmpire.com

The EUR/JPY pair rose during the Tuesday session as the Euro got a little bit of a bid. However, it should be noted that we are still underneath the recent cluster of trading at the 96.50 level, and as such we feel that we’re heading directly into resistance.

Looking at this chart, we don’t necessarily feel the need to buy it. In fact, we are very leery of owning the Euro in general, and as such we are only looking at this from a seller’s point of view. If we can break the lows of the Monday candle, we would start shorting this pair again.

Click here a current EUR/JPY Chart.

Originally posted here