EUR/JPY remains bullish, but not over 125,00

FXStreet The EUR/JPY is the second day in a row, risen, after it on Tuesday to a sharp decline in the 123,14 was. Currently, the trade takes place at 124,80/85, where a weekly prize is entered in the accounts.

At the beginning of the American trade, the High was formed at 125,07, but here could not hold the course. On the 124,60 support was found.

The rise in US bond yields and the rally in the shares on Wall Street have withdrawn from the Yen support. The rally in the USD/JPY will lead to a decline in the EUR/USD.

Technical Prospects

With the Asian trading, the EUR/JPY was able to overcome the resistance of 124,50/60, which speaks for a positive Outlook. On the 124,90 the next resistance is located at 125,20/25 and then the 125,45/50 and the 125,80 follow (may High).

** FXStreet News Editorial, FXStreet**

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