EURJPY looks to strengthen further after it was seen taking back its Tuesday losses during Wednesday trading session. On the downside, support comes in at the 125.00 level where a break if seen will aim at the 124.50 level. A cut through here will turn focus to the 124.00 level and possibly lower towards the 123.50 level. On the upside, resistance resides at the 126.00 level. Further out, we envisage a possible move towards the 126.50 level. Further out, resistance resides at the 127.00 level with a turn above here aiming at the 127.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, EURJPY continues to retain its broader medium term uptrend.
