16 Apr 2015
EUR/JPY around 128.00 with a bullish tone
FXStreet (Córdoba) - The EUR/JPY pair rebounded at 126.70 and jumped almost 150 pips, reaching at 128.12, the strongest level since last Friday. Afterwards pulled back finding support around the 127.50 area
At the moment, the pair trades at 127.85/90, up 70 pips for the day and in positive territory for the week.
EUR/JPY technical outlook
The pair is consolidating above 127.60 (previous resistance) holding a bullish tone in the short term. Currently attempting to regain the 128.00 area. It could extend gains if it holds above the mentioned level. On the opposite direction a decline below 127.40 would weaken the outlook for the euro.
At the moment, the pair trades at 127.85/90, up 70 pips for the day and in positive territory for the week.
EUR/JPY technical outlook
The pair is consolidating above 127.60 (previous resistance) holding a bullish tone in the short term. Currently attempting to regain the 128.00 area. It could extend gains if it holds above the mentioned level. On the opposite direction a decline below 127.40 would weaken the outlook for the euro.