Consolidating after short-term increase.
• EUR/JPY has broken the resistance at 117.43
(23/11/2016 low). Other resistance stands at
122.88 (13/03/0217 high). Major support is given
at 114.90 (18/04/2017low).
• In the longer term, the technical structure
validates a medium-term succession of
lower highs and lower lows. As a result, the
resistance at 149.78 (08/12/2014 high) has likely
marked the end of the rise that started in July
2012. Strong support at 94.12 (24/07/2012 low)
looks nonetheless far away
(By Peter Rosenstreich )