The EUR/JPY pair rallied during the course of the we, testing the 120 level for resistance. This is an area that is resistive, but I think given enough time we will break above there. A pullback that show signs of support would be a buying opportunity, and could change the trend completely. The Japanese yen continues to be sold off around the world, and it is having a bit of a “knock on effect” in this particular pair as well. I think that pullbacks necessary, but eventually we go much iron.