EUR/JPY: Obvious parameters at 100.50/101.80
A quick look at the 30-minute chart shows a 5-wave down-move which stalled at a double bottom. The 61.8% retracement of the down-move coincides with some previous highs near 101.80 and this is the obvious resistance level on the day. The neckline of the double bottom is at 100.50 and this is obvious support. I’d play this 100.50/101.80 range with a bullish bias given that the G7 is underway and we can expect oral intervention.