EUR/JPY saw a massive push back from the EUR bulls on rumors and statements about a massive EU bailout fund to recapitalize the EU banks. This led to a rebound in the Euro in general, and this pair reflected it by the end of the day, forming a hammer. However, the 1.05 level above could prove difficult.
EUR/USD fell as well, but also rebounded from lows to form a hammer. This market looks like a bounce is coming, but the 1.40 should be a massive resistance level. In the mean time, we are likely to see a gain in this pair. If the lows get broken - this pair falls rapidly.
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