EUR/JPY: Deeper Fall Is Expected

Technical Reports

Trading is on the downside and deeper drop is expected, considering minor resistance 130.86. Recoil from 124.61 has completed at 131.97. Pivot points are at: (S1) 129.62; (P) 129.94; (R1) 130.48.

Overcoming of support 127.13 will aline low 124.61. Trading above minor resistance 130.86 will bring retest of 131.97.

Corrective fall from 137.49 has completed. The cross keeps a medium term bullishness, considering key resistance turned support 124.08. Overcoming of 133.47 will affirm bullish case and aline 137.49 and above.