(03 JULY 2017)EUR / JPY:Bullish consolidation.

(03 JULY 2017)EUR / JPY:Bullish consolidation.

3 July 2017, 13:43
Jiming Huang
0
19

ej


Bullish consolidation. 

(By Yann Quelenn )

• EUR/JPY is now consolidating after its recent 

rally. Key resistance is located at 128.83 

(30/06/2017). Hourly support can be found at 

127.10 (30/06/2017). Next support is given at 

122.56 (18/05/2017 low). Further upside is 

favored. 

• 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.

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