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)
