Commentary of the EUR/JPY parity :

The parity didn't suceed to break the support at 121.50. The price just made a pullback on 123 (resistacne). We maintain to trade only short positions as far as the price is below 123. A break out of this level will offer a buy signal. However, a break out of 121.50 will offer a new sell signal.

See the previous analysis of the EUR/JPY parity of March 24, 2010