Forex

EUR/JPY and GBP/JPY Intra-day Update

EURJPY is making a small retracement from the highs, which we believe can be corrective and part of strong, ongoing impulsive uptrend. We are tracking fourth wave now that has support levels at 121.70-122.40 area. I would not be surprised by a bounce from that zone, considering that there is a former wave four, and also upper line of a base channel support. Similar can be with GBPJPY; now retracing into fourth wave possibly down to 135.87-137.30 area where can be interesting zone for a new bounce.

EUR/JPY 1h

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GBP/JPY 1h

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