EUR/JPY Broadly Fell

Technical Reports

The cross has broadly declined after meeting 131.13. Trading turned up on the downside to 129.10 support. Following pivot points include: (S1) 129.83; (P) 130.47; (R1) 130.91.

Breach will resume the drop from 131.97 and align 127.13 support. Over 131.13, the recoil from 124.61 will expand through 131.97.

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.