Fall Resumption In EUR/JPY
Trading is on the downside for support 127.85, as fall from 133.12 resumed after reaching temporary low 129.11. A near term forecast will stay mildly bearish in case of recovery. Pivot points are at: (S1) 127.93; (P) 128.84; (R1) 129.36.
Overcoming of support 127.85 will confirm completion of the bounce from 124.89 at 133.12. Hitting of resistance 130.29 will indicate completion of the fall. Deeper fall to support zone 124.61.89 is expected.
Larger uptrend from 109.03 continues. The cross has defended key support level of key resistance turned support 124.08. Overcoming of 137.49 will aline resistance zone 141.04/149.76. Break of 127.895 will turn focus back to key support level 124.08.