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Forex pairs in this Article » EUR/JPY (Barcelona) - After dipping to the boundaries of 125.00, the cross has managed to pick up pace and trade back around the key resistance at 12600, as the euro keeps its buoyancy.

"EURJPY held just over 123.33 the 2011 high and bounced yesterday. It is possible that we will see only a shallow correction down from the 127.93 April 2010 high and started to correct lower. Directly below the market lies the 6-week uptrend at 121.81 and the 3-month uptrend at 119.45. We look for these to hold the downside and provoke recovery", suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
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