The EUR/JPY Lost Upside Momentum

Technical Reports

Trading is neutral, as the pair lost upside momentum after hitting 131.39. Pivot points are at: (S1) 130.26; (P) 130.79; (R1) 131.13.

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.