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Forex: EUR/JPY bounces at 129.70, back above 130.50

FXstreet.com (San Francisco) - After declining around 90 pips from 4-month high at 130.80, the EUR/JPY has finally found support at the 129.70 area with the pair bouncing back to trade above the 130.50 level. Currently the pair is trading at 130.60.

With 0.13% daily gains, the EUR/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators are mixed in the 1-hour chart as Momentum is bullish, CCI is bearish and the MACD and Stochastic are neutral.

On the upside, above the 130.50 area, resistances are at 130.80 and 131.00. Below the 129.70, next supports are at 129.50 and 129.40.

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