EUR/JPY Recommenced

Technical Reports

After breaking 128.31, the cross has recommenced. Trading is neutral. Breach of 130.86 will prolong the increase from 124.89 and align key resistance area of 131.97/132.56. Following pivot points include: (S1) 128.20; (P) 129.02; (R1) 129.54.

Breach of 128.31 will prolong the drop from 130.86 to 61.8% retracement of 124.89 to 130.86 at 127.17 and lower.

EUR/JPY recoiled before the key resistance turned support of 124.08. The cross also remained over long term trend line from 109.03. The increase from 109.03 might still be progressing. Strong breach of 61.8% retracement of 137.49 to 124.61 at 132.56 will align repeat test of 137.49 maximum. Sustained breach of 124.08 will suggest ending of the intact lift from 109.03 at 137.49. Larger fall will head towards 61.8% retracement of 109.03 to 137.49 at 119.90.