EUR/JPY: Drop Resumption Is Not Excluded
Trading is neutral and break of minor support 128.38 will turn trading to the downside. Resumption of the fall from 133.12 is not excluded. Pivot points are at: (S1) 129.37; (P) 129.76; (R1) 130.14.
Upside should be limited by strong resistance from 130.20. 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.