FXWIREPRO: EUR/JPY Attempting Gains Above 126 Handle, Awaits German Ifo Data
22 March 2016, 08:36
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FXWIREPRO: EUR/JPY Attempting Gains Above 126 Handle, Awaits German Ifo Data
- EUR/JPY is attempting to break above strong trendline resistance at 126.20.
- The pair has broken above 38.2% Fib of 132.28 to 122.05 fall at 125.96 and has reclaimed the 126 handle.
- Markets focus on Euro area flash manufacturing PMIs and German Ifo sentiment due ahead for further direction in the pair.
- Resistances on the upside are seen at 126.45 (Mar 16th high), 126.62 (Mar 17th high) and 126.70 (Mar 15th highs).
- On the flipside, supports are located at 125.26 (Mar 18th lows), 125.21 (Mar 21st lows) and 124.77 (trendline).
The material has been provided by InstaForex Company - www.instaforex.com
