FX.co ★ EUR/JPY Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel in 106.50 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 106.50 with a 1st objective of 107.20, then 107.50. A break in 106.30 would invalidate this scenario.