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EUR/JPY - Approaching The Resistance at 136.70

There is a persistent succession of higher highs which favors a bullish EUR/JPY. Key resistance stands at 136.70 (11/02/2015). Support is located at 134.74 (rising uptrend line) then 134.31 (13/05/2015 low).

In the longer term, the break of the support at 130.15 validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Key supports stand at 124.97 (13/06/2013 low) and 118.73 (25/02/2013 low). A key resistance can be found at 136.70 (11/02/2015 high).

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