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Forex: EUR/JPY gives back all Friday's gains below 125.00

EUR/JPY has bounced so far from fresh weekly lows at 124.16 to present 124.53, down -1.71% from previous weekly close Friday. According to FXstreet.com Independent Analyst Ivan Delgado: “The next key support at 123.80 - Jan 31 high - may interfere on the prolonged selling interest off overbought levels,” Ivan says, adding: “A break lower exposes 122.80-123.00 - Jan 25 high,” he concludes.
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Forex Flash: Short USD and long risk trade still intact - Societe Generale

Monday's correction, in words of Societe Generale currency strategist Sebastien Galy, "is a bit stronger than I thought, but the case is still the same, that is, this is a market to buy expensive assets on dips."
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