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EUR/JPY - Moving Higher

EUR/JPY is increasing slowly. However, the pair is still in range between hourly support at 133.11 (05/05/2015 low) and resistance at 141.06 (04/06/2015 high). The pair is likely to challenge support at 133.11.

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 141.06 (04/06/2015 high).

Daily Technical Report

 

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