EURJPY- With the cross bullish and closing higher the past week, we expect more gains to follow in the new week. Despite its present price hesitation, the above view remains intact.
Resistance resides at the 132.74 level where a break will aim at the 133.81 level. Above here will pave the way for a run at the 134.50 level. Further out, resistance comes in at the 135.00 level.
Its weekly RSI is bullish and pointing higher supporting this view. Supports are seen at the 129.57 level and then the 128.50 level and then the 128.00 level. The key support resides at the 127.50 level. All in all, the cross remains biased to the upside in the medium term.
Guest post by FX Tech Strategy
Share
