(08 MAY 2017)EUR / JPY:Consolidating around 5-month high.

(08 MAY 2017)EUR / JPY:Consolidating around 5-month high.

8 May 2017, 14:08
Jiming Huang
0
14

EJ

Consolidating around 5-month high.

• EUR/JPY's buying pressures are there. Strong 

resistance standing at 124.10 (15/12/2016 low) 

has been broken. Major support is given at 

114.90 (18/04/2017low). Expected to see further 

renewed buying pressures towards 125.00. 

• 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 )

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