The euro is breaking out against the Japanese yen in the short and medium-term, after breaking above the April 2018 swing-high, close to the 133.50 level. The EURJPY pair could be set to rally towards the 135.00 to 136.00 price zone now that the breakout is underway. Buying any price dips towards the 133.50 support region in expectation of more gains appears the best strategy.
The EURJPY pair is only bullish while trading above the 133.50 level, key resistance is found at the 135.00 and the 136.00 levels.
If the EURJPY pair trades below the 133.50, sellers may test the 132.80 and 132.00 support levels.
