Another Rally in EUR/JPY

Trading stays slightly on the upside towards another rally if the whole minor support of 133.91 holds. Actual increase from 132.04 should head towards 61.8% projection of 114.84 to 134.39 from 132.04 at 144.12. Following pivot points include: (S1) 134.36; (P) 134.62; (R1) 134.79.

Daily MACD should hit downtrend line. Upside boost is expected. Under 133.91 minor support, trading will turn up in the neutral position. If the key support of 132.04 stands, prognosis remains bullish.

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 132.04 support will indicate medium term reversal. Prognosis will become bearish towards larger decline for 127.82 (55 day EMA).