EURJPY: Resumes Its Medium Term Uptrend

30 November 2016, 13:38

EURJPY: The pair resumed its medium term on Wednesday leaving risk of additional strength on the cards in the days ahead. On the downside, support comes in at the 120.00 level where a break will aim at the 119.50 level. A turn below here will target the 119.00 level with a breach turning focus to the 118.50 level. Conversely, resistance lies at the 121.00 level. Further out, resistance comes in at the 122.00 level where a break if seen will threaten further upside towards the 122.50. Further out, resistance resides at the 123.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, EURJPY eyes further upside pressure medium term.


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