The EUR/JPY dropped aggressively today and has managed to erase the Friday’s gains, looks determined to approach and reach an important dynamic support, we’ll see how will react when will hit this level. The current retreat was expected after the failure to make new highs in the last attempts, has also failed to stay above a major dynamic resistance, so the correction is natural.
Right now will be better to stay away from this pair because we don’t have a trading opportunity, but I hope that we’ll have a lear direction very soon because is located near a major resistance and a critical support.
The Yen has increased significantly as the Nikkei stock index has dropped further and has resumed the Friday’s bearish candle and looks determined to reach new lows. The JP225 is trading in the red and technically is expected to drop much deeper, this situation will send the Yen much higher versus its rivals.

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