EUR/JPY Short term outlook

FX:EURJPY   Euro / Japanese Yen
151 0 1
EUR/JPY             has retreated after making a high of 130.10 and currently trading around 129.27. Overall trend is weak as long as resistance 131.28 holds.

On the upside any break above 131.28 would extend gains till 131.75/132.69.

The pair’s minor support is around 128.80 and nay break below will drag the pair further down till 128.05/127.55.

Indicator (4 hour chart)

CCI (50) – Buy

Woodies CCI (14) – Neutral

Ichimoku- Neutral

It is good to sell on rallies around 129.30 for the target of 127.60 with stop around 130.15.
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