Growth in EUR/JPY Has Resumed

Trading in the pair is on the upside, as the growth resumes and reaches maximum 131.17. Pivot points are at: (S1) 129.87; (P) 130.23; (R1) 130.63.

Running increase should target next long term fibonacci level at 134.20. Overcoming of support 129.83 will point out a short term top.

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.