From a technical and trading perspective, EURJPY continues to test and defend the 116 area, yesterday the key reversal pattern flipped the daily chart bullish as per the near term volume weighted average price combined with momentum studies suggesting a near term loss of downside momentum. Prices have consolidated overnight within the upper half of yesterday’s range, bullish exposure should be rewarded on a breach of yesterday’s highs, this move would set an equality target towards 119 as highlighted in the chart. A breach of the overnight lows would negate the bullish thesis