Morning Report

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The EUR/JPY pair succeeded in building a bullish harmonic pattern, seen on the hourly chart, supported by the positive candlestick formation. Thereby, the intraday outlook is to the upside, supported by the positive overlapping sign, appearing on Stochastic. A break of 133.15 zones will be able to accelerate this speculated bullishness.

Trading range for today is among key support at 129.80 and key resistance now at 135.50.

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

Weekly Report

Support132.00131.60131.05130.50129.80
Resistance133.15133.85134.15134.80135.50
RecommendationBased on the charts and explanations above our opinion is, buying the pair from 132.50 targeting 134.10 and stop loss below 131.05 might be appropriate