EUR/JPY: Growth Is In Progress

Technical Reports

Trading is on the upside for resistance 130.20, as break of minor resistance 128.44 suggests a short term bottoming at 126.63. Trading below 127.24 will back to the downside. Pivot points are at: (S1) 127.46; (P) 128.01; (R1) 128.36.

Overcoming of 126.63 will point out resumption of the fall from 133.12 and target a test on low 124.89. Hitting of resistance 130.20 will aline high 133.12.

Larger uptrend from 109.03 continues, considering key resistance turn supported 124.08. 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. Hitting of 124.08 will point out completion of the growth from 109.03 turn forecast bearish.