The EUR/JPY pair rose during the session on Wednesday as the markets showed a significant bounce late in the US session. The EUR/JPY is notorious for following the global stock markets overall – notwithstanding the recent problems in Europe – and as a result it is a good risk pair. The breaking of the 100 level is solid now, and we suspect that the 50% Fibonacci level will now be tested at roughly the 102 handle. We are positive at the moment in this market and suspect that the trading will be choppy, but positive overall.

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Originally posted here