EUR/JPY’s Increase

The cross has increased to the 130.39 level. Trading turned up on the upside towards 100% projection of 114.84 to 125.80 from 122.39 at 133.35. Following pivot points include: (S1) 129.30; (P) 129.71; (R1) 130.25.

Breach of 127.99 support should point out creation of a near term top. If EUR/JPY pulls back, prognosis stays bullish.

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.