Cross-rates signals: EUR / JPY returns to lateral channel

After the publication of rumors about the possibility of curtailing the incentive program (QE) in the eurozone, the pair EUR / JPY appreciably strengthened, returning to the lateral channel where it traded for almost two weeks. In this case, the pair retains some uncertainty.

So, the range from 130.20 to 130.80 for EUR / JPY is the zone of uncertainty. Fastening above 130.80 will indicate the pair’s return to the lateral trend and will open the way to resistance levels: 131.30 and 131.80-90. A decline under the support of 130.20-00 will signal the resumption of the downward trend with a test of support levels: 129.60-70 and 129.40-20.

EUR / JPY Graph. The current price is 130.50.

Hanzenko Anton