Stalling below 120.00.
• EUR/JPY's buying pressures are there. Key
resistance area is given around 122.00 and
stronger resistance stands at 123.31 (27/01/0217
high). Major support is given at 114.90
(18/04/2017low). Expected to see short-term
consolidation before seeing another leg higher.
• 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 Yann Quelenn )