Another Drop In EUR/JPY Is Possible

Technical Reports

Trading is neutral for consolidation, with a temporary low at 127.49. Still, another fall is not excluded, considering resistance 130.14. Pivot points are at: (S1) 127.64; (P) 128.29; (R1) 128.74.

Overcoming of resistance 130.14 will renew the bounce from 126.63 towards resistance 133.12. Trading below 127.49 will aline support 126.63. Break of 126.63 will resume whole fall from 133.12 to support zone 124.61/89.

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.