FX.co ★ EUR/JPY Intraday Technical analysis

The spot rate approaches the intermediate resistance of its medium term bearish channel in 108.90 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 109.50.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 108.90 with a 1st objective of 109.50, then 109.80. A break in 108.70 would invalidate this scenario.