EUR/JPY’s Downside

Trading of the cross is still on the downside towards the key support of 132.04. Breach of 134.39 resistance turned support suggests a reversal. Following pivot points include: (S1) 133.84; (P) 134.65; (R1) 135.27.

Over 135.01 minor resistance trading will turn up in the neutral position.

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. The prognosis will remain bullish.