EURJPY Daily Forecast Mar 07 2014

Crosses 658458 111

The EURJPY continued its bullish momentum yesterday. Printed support at the 140.43 levels. This development leaves the pair targeting the 144.70 levels. A halt is likely, but the sustained break would open 147.00 next, further out will aim the 149.50 levels.

On the downside. Minor support comes at the 141.40 levels, stability above this level will keep pushing towards the 144.00 levels. Losing the 141.40 levels would open main support at the 140.43 levels, a halt is strongly suggested, but If 140.43 fails on a daily basis, expect the market to weaken further towards the 138.80 levels before the next possible rise.

In all, as long as support 140.43 holds on a daily basis, the EURJPY will remain biased on the upside towards the 144.70 levels, losing the 140.43 levels on a daily basis would reverse risks towards the 138.80 levels.

EURJPY Daily Forecast Mar 07 214