EUR/JPY finds major resistance at 124.96, long breaks above

FX:EURJPY   Euro / Japanese Yen
124 0 6
Yen weak across the board on the news that BOJ is reported to discuss negative-rates with banks.

EUR/JPY             spiked almost 50-pips to hit session highs at 124.95, 124.96 is 50% Fib of 128.22 to 121.71 fall and tough resistance for the pair.

Daily Techs support upside, break above 125 could see gains upto 125.70 levels.

Markets now await a string of manufacturing and services PMIs from the Euro             area due ahead for fresh impetus on the cross.

Resistance is seen at 124.96 (50% Fib), 125.14 (cloud base) and 125.30 ( Apr             7th highs).

Supports on the downside are located at 123.89 (5-DMA), 123.53 (10-DMA) and 123.40 (session lows).

Go long on breaks above 125, Target 125.30/125.70
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