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EUR/JPY - Bullish

EUR/JPY is definitely in a bullish channel. Key resistance is located at 116.37 (02/09/2016) and hourly support at support at 114.02 (03/11/2016 low).

In the longer term, the technical structure 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. The road is now wide open towards strong support at 94.12 (24/07/2012 low).

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