EURJPY – With the pair continuing to hold on to its corrective recovery, more strength is envisaged. On the downside, support comes in at the 124.00 level where a break if seen will aim at the 123.50 level. A cut through here will turn focus to the 123.00 level and possibly lower towards the 122.50 level. On the upside, resistance resides at the 125.00 level. Further out, we envisage a possible move towards the 125.50 level. Further out, resistance resides at the 126.00 level with a turn above here aiming at the 126.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, EURJPY faces further recovery threats.
