EUR/JPY
The move to positive sentiments exhibited by investors over the past couple of days has also positively influenced the euro – Japanese yen pair that, for the most part, moves in positive coordination with the financial markets. Expect a correction in the upward sequence at least at the level of 115.70 to continue its upward trend again.
In the short term, the weekly resistance level of 119.00 could be used as a price target for a partial realization whilst in the long term; we can set our sights towards the high and important resistance level of 124.50 Japanese yen to the euro.