ForexHood

Price up to a strong Resistance Area

FX:EURJPY   Euro / Japanese Yen
EURJPY has shown real buying momentum since the 10th of April. Resistance at the 126.500 may cap the bullish buying momentum if JPY trade balance data proves to be good. Forecasts expect to beat previous trade balance which may favour the JPY, However, the EUR may continue up for a little longer if 126.900 is reached. The best option is to wait for a SELL candlestick pattern below resistance or a BUY candlestick pattern above resistance.

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