Another Lift in EUR/JPY

Upside impulse is evaporating. If the whole 127.43 minor support stands, another lift is anticipated. Resilient resistance between 61.8% projection of 114.84 to 125.80 from 122.39 at 129.16 and level of a medium term projection at 129.89 might lead to formation of a near term top. Following pivot points include: (S1) 128.12; (P) 128.59; (R1) 129.04.

Under 1.2743, bigger retreat will head towards 125.80 resistance turned support.

The breach of 126.09 support turned will argue conclusion of the downtrend from 149.76 at 109.03. Increase from 109.03 must head towards 100% projection of 109.03 to 124.08 from 114.84 at 129.89. Breach in that area will align 61.8% retracement of 149.76 to 109.03 at 134.20 and higher. If 122.39 support is present, medium term prognosis stays bullish.