EUR/JPY chart - Trading View
EUR/JPY refreshes 26-month high above 128 handle, more upside on cards as bulls show no sign of exhaustion.
The pair has been on the bull run for the 4th consecutive month and price action is extending break above 110 month EMA.
Oscillators show strong bullish momentum and price action has broken above major trendline resistance at 127.50.
Price action in the pair remains supported by the improved sentiment across the markets and downbeat comments from BOJ’s Kuroda and Japan FinMin Aso.
Focus now on ZEW Economic Sentiment Index in both Germany and the broader Euroland along with another estimate of the Q4 GDP figures in the euro bloc.
Scope for test of 61.8% Fib at 128.67. Continued bullish momentum will find next major resistance at 200 month MA at 130.33.
