At a glance: On hold
EUR/USD also remained within a tight range yesterday which keeps the downside open for a straight extension to 1.2639 (daily breakout line), to 1.2542 (Fib.-projection) and ultimately to the key-T-junction at 1.2309 (int. 76.4 %). Only a break above 1.2806/17 (minor 38.2 %/200 DMA) would ease the down-pressure.
EUR/JPY is not looking much better but having defended the row of higher lows (last at 100.16/99.64) so far 1around 100.91 (int. 38.2 %) we are missing the final evidence that a deeper setback to at least 96.59 (int. 76.4 %) is on its way.
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J.P.Morgan