Watch For EURJPY For A Breakdown

FX:EURJPY   Euro / Japanese Yen
Watch for EURJPY             to close below 121.000 on a daily basis. If this pair can push below that level it could quickly drive down to the 119.000 area which is some strong support going back to Feb of 2010. If the 119.000 level is taken out this pair can make a parabolic move lower.

Our algorithm is indicating a 91% chance of EURJPY             breaking below 121.000 by the end of this month, of course any economic event or an emergency intervention by the BoJ can change everything. Definitely one too watch over the ensuing days.
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