EUR/JPY Technical Analysis - Dec. 13, 2012

EUR/JPY: the market’s break above the key technical resistance at 107.95 strongly indicates that the rally from 94.11 has started back up. Going forward we can see a test of the 100% level at 110.79 with a break and close testing 111.43 key level next.

Alternatively, a move lower and break below 105.97 can indicate a top in place. Near term support is at former resistance level of 107.95.