Stops are being triggered now through the 200 day MA (101.76) which also coincides with the top of a trend channel going back from the 25th July. The pair has just logged a fresh 3.5 month high (101.98) and targets the next near term resistance at 102.13 and 102.39 (May 22/17 highs).
There is also likely to be some more buy stops through 102.00 ahead of the above levels
A close above the 200 day MA would signal further strength and the average was last breached (on the downside) back on May 4
EUR/JPY’s currently trading around 101.90
