EUR/JPY’s rally accelerates today and break of 127.07 resistance confirms resumption of whole rise form 114.42. Next target should be long term fibonacci level of 61.8% retracement of 137.49 (2018 high) to 114.42 at 128.67.
Focus should also be on 1.2272 resistance in EUR/USD. Firm break there would affirm underlying strength in Euro. EUR/USD should then target 61.8% projection of 1.0635 to 1.2011 from 1.1602 at 1.2452. That could also bring stronger rise in Euro elsewhere.
