EUR/JPY is still the lead pair in the market and, if you can pick the range and direction for this one, you can trade almost any pair.
As can be seen on the attached weekly chart, the downtrend remains in control. What we can also begin to understand is why there are so many stops now building above 120. If we break above there, which is a daily high and the weekly trend line, we should see a sharp short covering rally towards 128.00. If resistance holds, then a re-test of the recent 112.05 low is inevitable.
