EUR/JPY: With EUR/JPY bulls on the offensive, further price strength should build up towards the 130.75/99 zone. This corrective recovery is coming on the back of its recent weakness. Support comes in at the 129.50 level where a break will aim at the 129.00 level. A turn below here will target the 128.50 level with a breach turning focus to the 128.00 level. Its daily RSI has turned higher supporting this view. Â
Conversely, resistance lies at the 131.00 level. Further out, resistance comes in at the 131.50 level where a break if seen will threaten further upside towards the 132.00. Above here if seen should push the cross further towards the 132.50 level. All in all, with EUR/JPY bulls on the offensive, further price strength should build up towards the 130.75/99 zone in the days ahead.
