EUR/JPY fell again on Thursday. However, just as it has so many times now - it found a bounce at the 98 handle. The level looks very supportive, and as a result many would be tempted to go long. However, the noise from here to 101 is simply far too much for us to be comfortable.
The EUR/GBP pair fell during much of the session, but bounced in order to remain above the 0.79 level. This area is currently acting as a temporary support level, and because of this we are waiting to see a break down. Much like the EUR/JPY pair - there is a lot of noise above so we don't like going long until we reach the 0.8150 level.
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