EURJPY: Follows Through Higher On Recovery

19 May 2017, 14:01

EURJPY: The pair faces further move higher following strong strength during Friday trading today. On the downside, support comes in at the 124.00 level where a break if seen will aim at the 123.50 level.  A cut through here will turn focus to the 123.00 level and possibly lower towards the 122.50 level. On the  upside, resistance resides at the 125.00 level. Further out, we  envisage a possible move towards the 125.50  level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further upside pressure.

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