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The EUR/JPY pair rose during the session on Monday as the 100 handle held as support yet again. This area is a bit of a "make it or break it" type of level, and we do feel that there is a taunt of support all the way down to the 99 handle. Because of this, we are more than willing to buy pullbacks in this market, as well as strong green candles.
It isn't until we get below the 99 handle that we are considering selling now, and as a result we think this market will continue much higher and retest the 103 level. If we do manage to break down below the 99 handle however, we think that the 95 level will be targeted.