The Euro managed to incline against the Yen as the pair breached the 38.2% correctional level at 162.26 and is targeting the 163.75 level, supported by an inverted Head and Shoulders model over the four hours chart the pair was able to acquire some strength to indulge in a bullish wave, yet the momentum indicators are showing the pair is now trading within an overbought area and is in need of a correction, yet this correction shouldn't breach the 162.11 which is the main support for the medium term upside channel.