Bearishness In EUR/JPY

Technical Reports

The cross fell to 126.80 minimum. The drop from 131.79 extended after short consolidation. The breach of 127.13 support suggests bearishness. The corrective recoil from 124.61 has ended at 131.97. Following pivot points include: (S1) 127.72; (P) 128.36; (R1) 128.70.

Deeper decrease from 137.49 might be extending. Trading turned up on the downside to repeat test of 124.61. Over the minor resistance of 127.63, trading will become neutral. Recovery should be bounded under the support turned resistance of 128.49, causing further drop.

The cross remains over the key support turned resistance of 124.08. Bigger increase from 109.03 should extend. Breach of 133.47 should push EUR/JPY through the maximum of 137.49. Strong breach of 124.08 will indicate medium term reversal and align the minimum of 109.03 and lower.