Lane said that there is no concern about current Euro level and that the ECB must judge implications of any Euro .
EUR/JPY is trading 0.75% higher on the day, hit 3-week highs at 132.37 before paring some losses to currently trade at 132.25 levels.
Technical studies have turned . The pair has bounced off strong support at 200W .
Price action has broken above major resistance at 131.55 levels (nearly converged 20 and 200 DMA).
We see scope for test of 61.8% Fib at 134.39. invalidation likely on retrace below 200-DMA .
Support levels - 131.56 (20-DMA), 131.52 ( 200-DMA ), 131.46 (5-DMA)
Resistance levels - 132.46 (38.2% Fib), 133.05 (Feb 21 high), 133.42 (50% Fib), 134.39 (61.8% Fib)
Good to go long on dips around 132, SL: 131.50, TP: 132.45/ 133/ 133.40