EURJPY: Outlook Higher On Further Bull Threats.
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EURJPY- The cross may have closed marginally lower the past week but continues to retain its broader upside bias as it faces further upside offensive. It was seen threatening further upside at the time of writing this report. The risk is for it to retarget the 131.30 level. A violation will aim at the 132.14 level followed by the 133.81 level. Further out, resistance comes in at the 104.50 level. Conversely, the risk to our analysis will be a return to the 128.51 level and then the 126.26 level where a break could force it further downside towards the 124.95 level. This if seen will aim at the 124.00 level. All in all, the cross remains biased to the upside medium term.