Nick Nasad
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EUR/JPY - Break Out From Consolidation?

I wrote about the AUD/JPY earlier, but the other JPY crosses are getting into the action.


Here, the EUR/JPY is breaking through its key resistance level at 135.35. This also is a breakout from a consolidation pattern following a rally in the early part of the month. This move can open up further gains for the pair.

I talked about the EUR/JPY targeting its 2009 highs in a post last week - EUR/JPY - A Break of 135.50 Would Open Up 2009 Highs At 138.40 - so you can have a look at that for the weekly chart of the pair for the important key levels.