EURJPY rallies on further upside pressure with eyes on 120.20 level. On the downside, support resides at the 119.00 level where a break will aim at the 118.50 level. A turn below here will turn focus to the 117.50 level and possibly lower towards the 117.00 level. On the upside, resistance resides at the 120.00 level. Further out, we envisage a possible move towards the 120.50 level. Further out, resistance resides at the 121.00 level with a turn above here aiming at the 121.50. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the whole, EURJPY retains its corrective upside pressure as it looks for more gain.
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