FXstreet.com (Barcelona) - The Euro Yen continues rallying with an strong pace at Monday's European opening times. After having bounced up at 117.90 on Friday, the Euro has rocketed more than 300 pips reaching past 121.00 already, aiming to 19 Jan High at 122.20.

On the upside, the Euro is expected to find resistance at 122.20, and above there, 124.10 (8 Jan low) and 9 Jan High. The Euro looks oversold in the hourly charts, thus a corrective move could be seen towards support levels. The nearest support remains at 120.37/47 followed by 119.05/20 and below there, 117.90.