EUR/JPY’s Firm Breach

Technical Reports

The cross is limited inside of diapason under 134.48. Trading character is neutral. Another increase is awaited if 131.16 support is present. Following pivot points include: (S1) 132.84; (P) 133.37; (R1) 134.19.

Firm breach of 134.48 will extend the medium term lift from 114.84 and align 141.04 resistance. Choppy breach of 131.16 support will argue short term trend reversal and prognosis will become bearish till the key support of 127.55.

A medium term growth from 109.03 has hit the 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. Breach of 127.55 support will indicate medium term reversal. Prognosis will become bearish towards larger decline for support zone of 114.84/124.08.