Slightly Bullish Forecast For EUR/JPY
Larger fall should align 127.13 support as long as the minor resistance of 130.25 is present. The recoil from 124.61 is expected to have ended at 131.97. Following pivot points include: (S1) 129.17; (P) 129.37; (R1) 129.62.
Breach of 127.13 will mark bearishness and align a test of 124.61 minimum. Over 130.25, a repeat test on 131.97 will be aligned.
A medium term forecast is rather bullish. The drop from 137.49 for 124.61 is seen as correction. A key resistance turned support of 124.08 was already met. Breach of 133.47 resistance will indicate the bullishness and extension of the rise from 109.03 to the maximum above 137.49. While 127.13 support is present, the forecast will remain unchanged.