19.04.201318:48 Forex Analysis & Reviews: EUR/JPY: Key level 129.17, for April 19, 2013 (daily strategy)

The EUR/JPY is a pair that has become the winner in recent weeks. Due to the extent of movements, this pair is very optimistic because in the meeting of G-20 Finance Minister Japan, Taro Aso, did not find much resistance to stimulus to the economy, which has been promoting Shinzo Abe's government, and the yen, consequently, fell again. Right now there is no doubt that the Japanese currency will break the barrier of 100 units in the short term, and in turn it will take up the cross of euro yen towards the objectives of 132.50 and 135 yens per euro. Looking at the graph below, we can decide to buy if the pair finds a rebound in the level of 129.17 with target to 130.90, first weekly resistance. If the pair breaks the level of 129 yens, it is likely to be a correction to 125.45 support. On the other hand, the Momentum Indicator is very overbought, which signifies the imminent fall of this pair before a new upward sequence.

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