Tanalys

EUR/JPY intraday: bullish bias above 128.5.

Pivot: 128.5

Our preference: Long positions above 128.5 with targets @ 129.9 130.65 in extension.

Alternative scenario: Below 128.5 look for further downside with 127.85 127.5 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Key levels

131.1

130.65

129.9

129.215 last

128.5

127.85

127.5

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