EUR/JPY - Lowest since mid-2013
Yesterday EUR/JPY broke below support at 126.00 level and continues downward movement. Nearest support at area 125.00 was tested. Currently it is likely that price will rebound to 126.10 and return to declines. Alternatively, if bulls will be as weak as they have been so far, then a new low may occur without any correction.
Wider view time-frame W1
In the long term, uptrend at EUR/JPY looks finished. After last high in December 2014, price fell and new lows occurred. While price is below 127.30 it is likely that declines will proceed. Next strong support at W1 TF could be found at 122.90.
Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.