EURJPY made a low of 125.0 on 13th June 2013, then respected trend line support level and took bounce on 10th July, 2013. Major factors of this abrupt appreciation were Bond auctions and FOMC meeting. Better releases and USD’s weakness has brought the pair back to the previous support (125.6)

If the support is broken then we can see downside move to 124.44 or even further.


What to do?

Currently it is a good level to go long on EURJPY with 133.8 resistances and 124.4 as support.

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