Expansion of EUR/JPY’s Fall

Technical Reports

Pair's fall from 136.63 is expanding. Trading stays on the downside towards 132.04 support. Strong breach in that area will indicate medium term trend reversal. Following pivot points include: (S1) 132.62; (P) 133.58; (R1) 134.10.

Over 134.03 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. If EUR/JPY pulls back strongly, the prognosis will remain bullish.