Greetings.
The EUR/JPY has been making slow and steady moves to the upside and this upward action may potentially continue as may also be forming an Ending Diagonal (ED).
If this ED pans out, look for a shorter-term push to the upside and when it completes, will reverse and push down quickly.
Good luck with trading and don’t forget that Pro Pipper Trading is offering a $50 discount for the C2FX Forex Trade Sheet. This year (2010), our trade sheet is up more than 15,150 pips in long term trades and 1,300 pips in short term (or posted trades). We also have an educated scalping method we call Quick Trading. To get the discount or if you have any questions, please email tradesheet@propipper.com and put ‘Trade Sheet’ in the Subject Line.