EURJPY: The cross remains offensive following its corrective recovery triggered during Monday trading session. This is coming on the back of its Friday rejection candle print. EURJPY now faces the challenge of breaking and holding above its key resistance zone the 133.14/43 zone. Above here if seen will turn risk higher towards the 134.00 level. Further out, resistance comes in at the 134.50 level where a break if seen will threaten further upside towards the 135.00. Further out, resistance resides at the 135.50 level. On the other hand, support comes in at the 132.50 level where a break will aim at the 132.00 level. A turn below here will target the 131.50 level with a breach turning focus to the 131.00 level. All in all, the cross now remains biased to the upside nearer term.
25th April 2016
EURJPY: Follows Through Higher On Corrective Recovery.
