The EUR/JPY Stays in Consolidation

Technical Reports

Trading in the pair is neutral, as a consolidation from 130.76 continues. Pivot points are at: (S1) 129.86; (P) 130.22; (R1) 130.90.

Downside of the pair should be contained by support 127.43. Over 130.76, bigger growth will head towards another key fibonacci level of 134.20.

The downtrend from 149.76 has concluded at 109.03. Another increase should align 61.8% retracement of 149.76 to 109.03 at 134.20. Firm breach in that spot will head towards the key long term resistance zone of 141.04/149.76.