EUR/JPY: Consolidation Could Extend
Stance of trading is neutral and consolidation from 126.63 could still extend. Hitting of 127.61 will resume the fall from 130.14 and aline support 126.63. Pivot points are at: (S1) 127.73; (P) 128.16; (R1) 128.46.
Overcoming of 126.63 will point out resumption of whole fall from 133.12 to support zone 124.61/89. A near term forecast will remain bearish while resistance 130.14 keeps.
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.