FxWirePro: EUR/JPY reverses downside to 117.31, retakes 118 handle, awaits ZEW data for further impetus

• EUR/JPY rebounds from lows of 117.31, retakes 118 handle, intraday bias higher.
   
• Downside remains capped as the yen continues to weaken amid higher Asian equities, providing support to the cross.
   
• Techs support further upside in the pair. We see a bullish Stochastics crossover from oversold levels and RSI is biased higher.
   
• The pair has held above major trendline support at 116.75 levels and weakness to resume only on breaks below.
   
• Immediate support hourly 100-SMA at 118.00, and resistance on the upside is seen at 118.65 levels.
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Recommendation: Good to buy dips around 118.20, SL: 117.80, TP: 118.65/ 118.85/ 119