EUR/JPY bounces at 128.90 and trades back at 129.80

FXstreet.com (San Francisco) - In a sudden movement just after the European closing bell, the EUR/JPY was rejected by the 129.90 level and fell around 100 pips to test the 128.90 area, but the pair bounced strong here and currently it is trading back around 129.70.

The EUR/JPY is now trading at 129.65, almost flat on the day. The short term perspective however is strongly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is neutral.

Next resistances are at 129.90, 130.40 and 130.60. On the other side, supports are at 128.90, 129.65 and 128.00 as key level to pay attention.