FX.co ★ EUR/JPY Intraday Technical analysis

The spot rate is currently testing the upper limit of its medium-term bearish channel in 104.30 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 104.30 with a 1st objective of 104.80, then 105.00. A break in 104.10 would invalidate this scenario.