Yesterday, EURJPY had an reversal in London session. The price touched 101.9 before going up with some positive fundalmental news from Eurozone. EURJPY has broken all fibonacci retracement level with the peak (103.75) and bottom (101.9). We hope to see a bright period today. But We can see on the chart, EURJPY 's moving in the downward channel. Although, the Price bounced on the convergence level with Fibonacci level 50% and Pivotpoint to set up a higher low, however we still waiting a breakout the level around 103.5 so that EURJPY can escape from the downward channel in 30 minutes chart.
With the effort of eurozone and G20 to solve the financial crisis, we can believe the downward of EUR can be stopped.
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