EUR/JPY Looks To Recover Further Higher Towards 125.08 Zone

Mohammed Isah FXTechstrategy

EURJPY looks to recover further higher towards 125.08 zone as it eyes price extension. Support comes in at the 124.50 level where a break if seen will aim at the 124.00 level. A cut through here will turn focus to the 123.50 level and possibly lower towards the 123.00 level. On the upside, resistance resides at the 125.08 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. On the whole, EURJPY faces further price recovery towards its key resistance at 125.08 and beyond.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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