EUR/JPY’s recovery from 128.04 extends higher today. Breach of 129.54 minor resistance argues that pull back from 131.39 has completed at 128.04, supported by 38.2% retracement of 122.39 to 131.39 at 127.95 as expected. Intraday bias is turned back to the upside for retesting 131.39. But break there is needed to confirm up trend resumption. Otherwise, we’d likely see more consolidation first. On the downside, sustained break of 127.95, however, will bring deeper decline to 125.80 cluster support (61.8% retracement at 125.82) before completing the correction.
Admiral Markets AUD/USD AUDUSDUpdate Blog Central Bank Watch Commodities & Metals CountingPips Forex Blog crude oil inventories Daily Look ECB Economics & Fundamentals efxnews EUR/USD EUR/USD Forecast EURUSDUpdate Federal Reserve Financial News Foreign Exchange Insights and Next Week Forex News forextime FRU GBP/USD GBPUSDUpdate investing Janet Yellen MajorEventsUpdate Majors Mario Draghi Minors MoneyMetals Morning Briefing New Overnight Developments Abroad - Daily Update NZDUSDUpdate Opinions Stock Market News technical analysis Technical Outlook TheGoldReport Uncategorized USD/CAD USDCADUpdate USDJPY USDJPYUpdate WallSt Weekly Forex Forecasts