(15 MAY 2017)EUR / JPY:Sideways price action.

(15 MAY 2017)EUR / JPY:Sideways price action.

15 May 2017, 13:58
Jiming Huang
0
30

EJ

Sideways price action.

• EUR/JPY's bullish run has stalled below range 

resistance at 124.59 (07/05/2017 high), Hourly 

support is given at 122.93 (05/05/2017 low). 

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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