April 27, 2016
EURJPY: Having the cross strengthened further on Tuesday, a follow-through higher is envisaged. Support comes in at the 125.00 level where a break will aim at the 124.50 level. A turn below here will target the 124.00 level with a breach turning focus to the 123.50 level. Conversely, resistance lies at the 126.00 level. Further out, resistance comes in at the 126.50 level where a break if seen will threaten further upside towards the 127.00. Further out, resistance resides at the 127.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, EURJPY eyes further bullishness on recovery.
