Although the cross recovered higher on Thursday, it continues to face downside pressure as it is presently seen reversing most of those gains. However, as long as the mentioned pressure holds above the 108.06/107.30 zone, we expect the cross to attempt on the upside with eyes on the 114.73 level. A break of there will call for more gains towards the 115.46 level, its May 18'10 high with a breach of there targeting the 119.63 level, its Feb 25'10 high. On the contrary, a violation of the 108.06/107.30 zone will reverse its consolidation attempts and trigger further weakness. Overall, EURJPY continues to face consolidation price activities.

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