The cross resumed a near-term rally that commenced from the 131.80 base and surged through previous annual high at 133.78, posted on 22/05, confirming completion of larger picture bullish pennant. Strong rally through the psychological 134.00 level approaches the 135.00 barrier on extension of larger uptrend from 94.10, 2012 low. Studies remain positive, but overextended 4-hour conditions see risk of prolonged consolidation that was so far contained above 134.00 support. Loss of the latter would open way for stronger correction and expose Fibonacci supports at 133.75/40, 38.2% and 50% retracement of 131.85/134.93 ascend. Conversely, resumption of the rally through 135.00, to open next hurdle at 135.66, while a Fibonacci at 161.8% extension of the rally from 127.96 and 136.00 is in extension.
Resistance: 134.72; 134.93; 135.66; 136.00
Support: 134.25; 133.75; 133.40; 133.00
EUR/JPY" title="EUR/JPY" src="https://d1-invdn-com.akamaized.net/content/pic6139b3894cad466e26e7595f9bbac826.png" height="400" width="800">