EURJPY- We are looking for EURJPY to eventually recapture the 133.81 level on ending its consolidation. This if seen will resume its broader medium term. As long as it holds and trades above its medium term rising trendline presently at the 126.51 level, this view remains valid. A violation of the 133.81 level will target additional upside towards the 104.00 level. Alternatively, on continued weakness, the 130.00 level will be aimed at followed by the 129.00 and then the 128.26 level. All in all, the cross remains biased to the upside in the medium term.
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EURJPY- We are looking for EURJPY to eventually recapture the 133.81 level on ending its consolidation. This if seen will resume its broader medium term. As long as it holds and trades above its medium term rising trendline presently at the 126.51 level, this view remains valid. A violation of the 133.81 level will target additional upside towards the 104.00 level. Alternatively, on continued weakness, the 130.00 level will be aimed at followed by the 129.00 and then the 128.26 level. All in all, the cross remains biased to the upside in the medium term.