The Euro is rising against the Yen as expected after showing a bullish Piercing Line candlestick pattern. A daily close above 139.83, the 38.2% Fibonacci retracement, targets the 50% level at 140.95. Alternatively, turning lower through the 23.6% Fib at 138.245 exposes the
Entering long seems premature absent confirmation of an upside breakout but a short position appears likewise unattractive without a defined reversal signal. Furthermore, the Yen's sensitivity clouded risk appetite trends warn against taking directional bets on fundamental grounds. We will continue to stand aside for now.