Even though
the Euro versus the Yen has been consolidating just above the 125.00 level
during the last few days, as shown on the daily chart of the EUR/JPY, the pair
keeps its bullish trend. The current consolidation may act as a “resting” point
for the pair to continue going higher. Usually, during these consolidations
some continuation patterns may develop like the flags, triangles or pennants.
If the pair continues going higher, then the latest high around the 128.21
level may act as resistance, but above that level we can see the 200 day
exponential moving average, around the 129.00 level, which could also act as a
resistance. Below the 125.00 level, in case the price drops, the latest lows
around the 122.00 level could act as a support zone.
Thank you for the analysis very helpful.
ReplyDeleteI think the pair will reach 128.00 - 128.20 soon.
ReplyDeleteGood point! I´ll be watching to those levels.
ReplyDeleteExcellent analysis, thank you.
ReplyDeleteGreat analysis!
ReplyDeleteThanks for the analysis, very helpful.
ReplyDeleteWell spotted.
ReplyDeleteGood post.
ReplyDelete