EUR/JPY: Breaks above important technical resistance

The previous high at 114.75 has been breached this morning but we do need to be wary of false Monday morning breaks.

A clean break above this level targets more important resistance around 116.50 which is where the next bearish trendline sits and it’s also the 38.2% retracement of the big 5-wave downmove from 134.20 to 105.60.

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