EUR/JPY's Increase Is Progressing

Technical Reports

Trading of the cross is still neutral. Breach of 129.97 minor resistance will indicate that increase from 124.89 is progressing. Following pivot points include: (S1) 128.90; (P) 129.36; (R1) 129.96.

Repeat test on 130.86 should become the next target. Breach will align 132.56 key fibonacci resistance. Breach of 127.85 will resume the decline from 130.86.

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.