EUR/JPY Technical Analysis: Euro best daily advance in 2 months

• Bulls staged a reversal up attempt at 124.61 previous key level. The 124.00-125.00 area was an important support/resistance zone in June 2017.
• EUR/JPY is now trading above its 50, 100 and 200-period simple moving average on the 15-minute time-frame suggesting short-term bullish momentum. 
• The last time EUR/JPY gained almost 200 pips in a day was in late March of this year.

EUR/JPY 15-minute chart

Spot rate:                     126.80
Relative change:         1.04%     
High:                             127.33
Low:                              124.98

Trend:                           Neutral to bullish if 124.61 holds (low of 2018)

Support 1:                    126.00 handle
Support 2:                    124.61 current week and year's low
Support 3:                    122.39 June 15, 2017 low

Resistance 1:              127.33 current Wednesday’s high 
Resistance 2:              128.00 handle
Resistance 3:              129.23 May 8 low