EUR/JPY correcting higher from channel base, good to long dips
EUR/JPY is extending retrace from near channel base, breaks above 5-DMA resistance at 127.68, currently at 128.06 levels.
Technical indicators have corrected from extreme oversold reading, RSI and Stochs point north.
The pair has edged lower from session highs at 128.17, a close above 128.0 will confirm further advances through this week.
Also, this week EU summit turns euro crosses into high beta - hyperactive OTC arrangements indicate euro 's gains within eurozone.
Immediate resistance is located at 128.25 (38.2% Fib of 132.28 to 125.77 fall), while 5-DMA at 127.68 is now immediate support on the downside.
Good to buy dips around 127.80, SL: 127.00, TP: 128.75/129/129.80
Technical indicators have corrected from extreme oversold reading, RSI and Stochs point north.
The pair has edged lower from session highs at 128.17, a close above 128.0 will confirm further advances through this week.
Also, this week EU summit turns euro crosses into high beta - hyperactive OTC arrangements indicate euro 's gains within eurozone.
Immediate resistance is located at 128.25 (38.2% Fib of 132.28 to 125.77 fall), while 5-DMA at 127.68 is now immediate support on the downside.
Good to buy dips around 127.80, SL: 127.00, TP: 128.75/129/129.80