EURJPY Bulls On The Offensive On Recovery
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EURJPY: With EURJPY 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. 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 EURJPY bulls on the offensive, further price strength should build up towards the 130.75/99 zone in the days ahead.