Another Increase In EUR/JPY

Technical Reports

The recoil is progressing to 130.16. The cross aligned 130.33 resistance. Sustained breach will expand the recoil from 124.61. Strong breach of short term falling channel will indicate reversal. Following pivot points include: (S1) 129.34; (P) 129.66; (R1) 130.07.

Another increase should head towards 133.47 resistance. Under the minor support of 128.49, trading will turn up on the downside to 127.13 support. Breach will align a test of 124.61 minimum.

EUR/JPY has closed over the key resistance turned support of 124.08. Decline from 137.49 is seen as a correction. Sustained breach of 133.47 resistance will indicate its ending and prolong the lift from 109.03 through the maximum of 137.49. Strong breach of 124.08 will point out reversal. The intact surge from 109.03 has finished at 137.49. Larger drop should head towards 61.8% retracement of 109.03 to 137.49 at 119.90 and lower.