EUR/JPY extends recovery to trade close the 129.00

FXstreet.com (San Francisco) - The Euro is trading in recovery mode against the Japanese Yen and after bouncing at the 128.00 area, the EUR/JPY is trading at levels close to the 129.00 area at 128.90.

Currently, the EUR/JPY is trading at 128.70, 0.45% down on the day yet. However, the short term perspective is now strongly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.

Next resistance is the 129.00 area ahead of the 129.30 and the 129.65. On the downside, supports are located at 128.00, 127.30 and 126.55.