EURJPY Threatens Further Bullishness On Recovery Higher

EURJPY threatens further bullishness on recovery higher. This is coming on the back of its flat close the past week. Support comes in at the 128.50 level where a break if seen will aim at the 128.00 level. A cut through here will turn focus to the 127.50 level and possibly lower towards the 127.00 level. On the upside, resistance resides at the 129.50 level. Further out, we envisage a possible move towards the 130.00 level. Further out, resistance resides at the 130.50 level with a turn above here aiming at the 131.00 level. On the whole, EURJPY faces further upside threats towards key resistance.