FXstreet.com (Barcelona) – The Euro has weakened today against the Yen reaching as low as 121.16, according to the ActionForex Technical Team, intraday bias is on the downside: “Rebound from 116.47 could have completed at 126.24 already. Intraday bias is mildly on the downside as long as 123.46 minor resistance holds and further downside could be seen to 116.47. Break will bring retest of 113.63 low.

On the upside, the ActionForex Technical Team advances: “On the upside, though, above 126.24 will indicate that further rise is in progress to 131.02 or above to complete the correction that started at 113.63.”