Technical Trading Tips and Techniques by 
Price action on EUR/JPY, a daily chart of which is shown, has just made yet another pronounced bounce up off the highly significant 131.00 support level, which has served both as support and as resistance on numerous occasions in the past. Currently, the bounce off this level coincides with a bounce up off a key uptrend support line extending from early March. For more technical analysis on this currency pair, please click here for Tuesday’s (9/15/2009) Chart of the Day.
- James Chen, CTA, CMT
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although i agree with your analysis i think that the next resistance level is 138.70 region, reached in June and August.
we will see.
Hi Maxu,
Thanks for your comment. Yes, I have the same resistance level up there as you do, as I have a line drawn at the level you mention. Thanks, as always, for your great insight, Maxu!
- James