Currency Analyst since 2010

EUR/JPY: technical levels

The daily Ichimoku Cloud, this time thin, has once again supported EUR/JPY. Euro rose today from the levels below 129.00 to the base line at 130.35 – this level is playing the role of resistance. A rise above 130.50 will open the way to 131.11 (July 2 high, resistance line). We’ll try to go short from here.

There’s a falling star at the H4 chart in this area, so we expect at least some consolidation. Below 130.00 euro will likely slide to support at 129.50. Further support is at 129.00, 128.28 and 128.00. The bulls will remain in good strength as long as EUR/JPY stays above 129.00.

Chart. Daily EUR/JPY

Chart. H4 EUR/JPY

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