Today's Support And Resistance Levels:

Support                        Resistance

1: 99.61                       1: 100.89 

2: 98.99                       2: 101.14

3: 98.30                       3: 101.54

Technical Overview:

Finally it seems that we are moving again. However, we need a break below 99.61 and, what is more important, 98.99 should confirm that wave iii will go towards at least 96.72, and more likely, 95.62 is well under way. As long as support at 99.61 has not been broken, there is a risk of the breaking above 100.80 and a more important 101.39 which will tell us, that wave 4 has not yet finished and will delay the the final decline for a move higher towards 101.54 first.

On a greater scale, we are in the final decline towards the ideal target near 94.58, when the final bottom is in place we should be looking for a major rally towards 111.45, but we will fine tune this rally when the long term bottom is set.

Trade Recommendation:

Sell EUR against JPY upon a break below 99.61 with a 100.80 stop and take profit at 95.80.