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EUR/JPY Outlook: Pair Continues To Trend Higher

EUR/JPY Outlook: Pair Continues To Trend Higher

EUR/JPY The pair continues to trend higher and holds steady above 134.00 handle. Bulls look for test of 134.70, the last obstacle en-route towards near-term target at 134.93, 19/09 peak. Near-term studies maintain positive tone, as larger picture bulls look for completion of short-term corrective pullback from 134.93 to 131.12, with break here to extend the third wave off 132.62 higher low and focus 135.19, Fibonacci 100% expansion. Initial supports lay at 134.17/00, ahead of last Friday’s correction low at 133.59, also near mid- point of entire rally that should keep the downside protected for now. Resistance: 134.70; 134.93; 135.00; 135.19

Support: 134.17; 134.00; 133.59; 133.31

EUR/JPY Hour Chart” title=”EUR/JPY Hour Chart” width=”800″ height=”400″ src=”” />

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