The euro currency is attempting to recover higher against the Japanese yen on Monday, as the yen currency comes under pressure across the board on the foreign exchange market. The EURJPY pair could stage its next major move if bulls overcome Ichimoku resistance, around the 129.50 level. According to the four-hour time frame, the 129.90 level offers further strong resistance from a key rising trendline.
The EURJPY pair is only bullish while trading above the 128.85 level, key resistance is found at the 129.50 and 129.90 levels.
EURJPY pair is only bearish while trading below the 128.70 level, key support is found at the 128.30 and 127.80 levels.