Mihai_Iacob

EurJpy- Bulls need 139.50 zone intact

Alış
FX:EURJPY   Euro / Japon Yeni
Jpy has started the year very weak and, in EurJpy's case, reversed strongly from 137.50 support( visible on the daily chart).
After breaking above 141.50 resistance on Monday, the pair continued its rise and reached the very important resistance zone from 143.
An immense 250 pips drop followed this rise yesterday, and the pair is trading now at 140
Considering the strong reversal from the bottom, I maintain my idea that a resumption of the long-term trend is possible, and for this scenario to remain intact bulls need to stay above 139.50 support

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