The EUR/JPY at key resistance level

The EUR/JPY rallied during today’s session and broke a key resistance at the 134.479 level. The breakout has not been confirmed yet. On the weekly chart of the EUR/JPY we can see that the next candle should be above the 134.479 in order for the breakout to be confirmed. In case the rally continues on the EUR/JPY, then its next resistance level could be the 139.000 round number zone from where the price has already bounced to the downside in the past, but we must keep in mind that the pair has not visited that zone since July 2015. On the weekly chart we can also see a golden cross around the 126.371 level. The golden cross is completed when the 55 day EMA (purple line) crosses above the 200 day EMA (blue line). The golden cross has bullish implications in the midterm, therefore it is possible for the EUR/JPY to continue rallying.