EUR/JPY continues to
rise after the successful test of the support at 133.61 (18 October 2013 low).
A new test of the key resistance at 135.51 is likely underway. Hourly supports
can be found at 134.27 (29 October 2013 low) and 133.61.
In the longer term,
we favour a further rise towards the strong resistance at 139.22 (05 June 2009
high) as long as the support at 131.15 (08 October 2013 low) holds. However, a sustainable
move above this resistance is unlikely given the overall increasing overbought conditions.
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