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EUR/JPY – Bullish case strengthens

FX:EURJPY   Euro Fx/Japanese Yen
25 0 1
Daily Chart

Pattern - Bullish price-RSI divergence confirmed

Resistance – 124.44, 125.40, 126.16

Support – 124.00, 122.83, 122.54

  • Pair’s bullish price-RSI divergence if followed by a move above previous day’s high of 124.44 would expose falling channel (extended) level seen today around 125.40 levels. A break above would expose another falling trend line resistance around 126.90 levels.
  • On the contrary, failure to take out 125.40 could yield fresh fall in the cross, with bears gaining more power below 122.54 levels.
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