With the EURJPY pair seeing taking back its Friday losses during Monday trading session, a resumption of its short-term uptrend is now likely.
Support comes in at the 130.50 level where a break if seen will aim at the 130.00 level. A cut through here will turn focus to the 129.50 level and possibly lower towards the 129.00 level.
On the upside, resistance resides at the 131.00 level. Further out, we envisage a possible move towards the 131.50 level. Further out, resistance resides at the 132.00 level with a turn above here aiming at the 132.50 level.
On the whole, EURJPY continues to face further upside pressure with trend resumption on the cards.
