- EUR/JPY has retreated after making a high of 130.10 and currently trading around 129.27. Overall trend is weak as long as resistance 131.28 holds.
- On the upside any break above 131.28 would extend gains till 131.75/132.69.
- The pair’s minor support is around 128.80 and nay break below will drag the pair further down till 128.05/127.55.
Indicator (4 hour chart)
CCI (50) – Buy
Woodies CCI (14) – Neutral
Ichimoku- Neutral
It is good to sell on rallies around 129.30 for the target of 127.60 with stop around 130.15.
The material has been provided by InstaForex Company – www.instaforex.com