Rise Of EUR/JPY Is In Progress

Technical Reports

Trading is on the upside, as growth from 124.61 should aline 100% projection of 124.61 to 130.33 from 127.13 at 132.85. Pivot points are at: (S1) 130.83; (P) 131.15; (R1) 131.66.

Further rise is expected, while minor support 129.90 keeps. Overcoming of 129.90 will point out a short term topping and turn focus back to support 127.13.

Growth from 109.03 has completed at 137.49. The cross is holding above key resistance turned support 124.08, with a corrective fall from 137.49. Overcoming of resistance of 133.47 will point out completion of a corrective fall and extend the rise from 109.03 through high 137.49. Break of 124.08 will confirm trend reversal.