Sideways price action.
• EUR/JPY has bounced back after breaking
hourly support given at 122.56 (18/05/2017 low)
has been broken. Hourly resistance can be found
at 125.82 (16/05/2017 high). Major support is
given at 114.90 (18/04/2017 low).
• 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)
