EUR/JPY Mid-Day Outlook

[Forex-Outlook]

EUR/JPY's rises further to as high as 122.27 today and retreats mildly after hitting 4 hours 55 EMA. At this point, further rise could still be seen as long as 117.39 minor support holds. The stronger then expected rebound from 110.69 dampens our immediate bearish view and we'll turn out focus to whether EUR/JPY could get through 127.88 resistance or reverse. On the downside, below 117.39 minor support will flip intraday bias back to the downside for retesting 110.69 low instead.

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