EURJPY cross can fall back to a support at 129.68-129.80 - Natixis

As the daily stochastic has turned around, the EURJPY cross can fall back to a support at 129.68-129.80 (daily Bollinger moving average), according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“A drop below these levels are nevertheless unlikely as the pick-up in the weekly stochastic rather pleads for renewed upside attempts towards the resistance at 131.60-131.80 (daily Bollinger upper band).”

“The break of this barrier is required to initiate a lasting recovery to 132.30-132.50 (rising trendline) and 133.03/17 (monthly Bollinger upper band) even 133.70 (weekly Bollinger upper band). The supports are located at 129.68-129.80, at 128-128.23, at 127.30-127.50 and at 126.44.”