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 )