Currency Analyst since 2010

FBS: EUR/JPY will test May high

EUR/JPY rose by more than 100 pips yesterday and closed above the resistance line from May highs. Today euro reached the highest point since spring at 133.36 and then eased down a bit finding support around July highs at 132.70 which used to act as resistance before.   

After some retracement/consolidation euro will likely aim for 133.80. A bigger advance may start unfolding from here with the top of the monthly Ichimoku Cloud at 137.68 in focus. Support is at 132.74, 132.40, and 132.13/10 ahead of 131.50 (100-month MA) and 131.00.

Chart. Daily EUR/USD

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