EURJPY: Follows Through Higher On Recovery

Discussion in 'Stock picks and trading strategies' started by FXTechstrategy, May 19, 2017 at 8:04 AM.

  1. EURJPY: The pair faces further move higher following strong strength during Friday trading today. On the downside, support comes in at the 124.00 level where a break if seen will aim at the 123.50 level. A cut through here will turn focus to the 123.00 level and possibly lower towards the 122.50 level. On the upside, resistance resides at the 125.00 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further upside pressure.

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