As seen in the daily chart, the Euro-Yen is rebounding today after going to a session low at 121.42. The loss of key support of the Euro-dollar has been dragged into this junction that we think ought to rebound from the forthcoming session. The recent daily candle into a hammer and the potential figure-head-shoulder shoulder invert we see in the daily chart would give us great joy if the stock markets permit. This crossing has a very high correlation with them.

If you would begin to rebound upward trend until clavicular line passing through the 125.24. We believe that the long opening section should be between 122.63 and 123.02. It would be normal crossing kick

and we were to find the resistance that occurs in the 123.35 and the 123.90.

Another factor that makes us go for the increases is the level of overbooking we see in the stochastic. The loss of 120.70 level would ruin the shape of shoulder-head-shoulder.

From the fundamental point of view we believe that this week will be the final resolution of Greek drama. On Thursday, the European Council meeting could clear the last doubts about the viability of the rescue plan for Greece. Germany seems to have come to its senses will bilateral loans with other community partners who would join the aid of the International Monetary Fund contingency. In any case, being the largest exporter in the Eurozone will favor a weaker Euro.