The euro is still looking bullish against the Japanese yen in the short and medium-term, as the pair trades at its highest level since September 2018. Lower time frame analysis continues to shows that an inverted head and shoulders pattern is in play and has yet to reach its target. According to the overall size of the bullish price pattern, the EURJPY pair could be preparing a rally towards the 133.75 area.
The EURJPY pair is only bullish while trading above the 130.95 level, key resistance is found at the 133.00 and the 133.75 levels.
If the EURJPY pair trades below the 130.95, sellers may test the 130.60 and 129.60 support levels.
