FXstreet.com (Barcelona) - The EUR/JPY has been m0oving between 116.00 and 117.60 for the current week, on Wednesday the Euro tested succesfully116.00 support level to bounce strongly , attempting to break 116.70 level at the moment of writing.

EUR/JPY shows a slightly upward pattern in the last four weeks after hitting 112.02 late January. Nicole Elliott, senior technical Analyst at Mizuho Corporate Bank expects some more mild appreciation for today and possibly a rally in the mid-term: Just about holding, unsteadily, at the bottom of the broad range that has held since October and under a very thin Ichimoku 'cloud'. Expect more of the same today and maybe all week with an attempt to rally late this month.