EUR/JPY on Wednesday saw sharp rebound from session lows at 118.59 to close above 100-DMA.
Euro buoyed on Wednesday after Francois Bayou pulled out of the French Presidential race, boosting Macro’s probability of beating anti-Euro Marine Le Pen.
Bias remains lower, upside in the pair remains capped by 5-DMA at 119.71.
We see scope for test of 200-DMA at 117.67.
On the flipside, decisive close above 5-DMA could see upside till next major resistance at 120.70 (20-DMA).
Euro buoyed on Wednesday after Francois Bayou pulled out of the French Presidential race, boosting Macro’s probability of beating anti-Euro Marine Le Pen.
Bias remains lower, upside in the pair remains capped by 5-DMA at 119.71.
We see scope for test of 200-DMA at 117.67.
On the flipside, decisive close above 5-DMA could see upside till next major resistance at 120.70 (20-DMA).
