EURJPY-With EURJPY retaining its bearish bias and weakening, the risk is for it to decline further. A violation of the 99.12 level, its Feb 01’2012 low will push the cross further lower towards the 98.00 level, its psycho level and then the 97.02 level. Its daily RSI is bearish and pointing lower. The alternative scenario will be for the cross to return to the 102.11 level with a cut through there allowing for more upside towards the 103.92 level and then the 104.60 level. Further out, resistance resides at the 107.99 level. All in all, EURJPY continues to hold on to its broader downside vulnerability
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