EUR/JPY Technical Analysis: Euro best daily advance in 2 months

• Bulls staged a reversal up attempt at 124.61 previous  key level. The 124.00-125.00  area was an important support/resistance zone in June 2017.
• EUR/JPY is now trading above its 50, 100 and 200-period simple moving average on the 15-minute time-frame suggesting short-term bullish momentum.  
• The last time EUR/JPY gained almost 200 pips in a day was in late March of this year.

EUR/JPY 15-minute chart

Spot rate:                      126.80
Relative change:          1.04%      
High:                              127.33
Low:                               124.98

Trend:                            Neutral to bullish if 124.61  holds (low of 2018)

Support 1:                     126.00 handle
Support 2:                     124.61 current week and year’s  low
Support 3:                     122.39 June 15, 2017 low

Resistance 1:                127.33 current Wednesday’s high  
Resistance 2:               128.00 handle
Resistance 3:                129.23 May 8 low