2014/05/15 (Thursday) Price Action

FX:EURJPY   Euro / Japanese Yen
15 0 0
Another good move today striking deeper toward the February range. Movement to even this weak support takes us out of the sideways movement. If we move back toward the range now it will be interesting to see the reaction.

Looking for a trend to establish now. If we continue past this weak support and have formation below it and continue to do so through next week we might see a trend establish. If we see a move back up to the previous range we might see quite a bit of hesitation to travel back into those areas and see further breakdown back to this support we encountered today. Either way I think the medium term is down, but lack of trend keeps me out of this pair.
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