The EUR/JPY bounces back strongly at 127.25 and operates again at 128.20

FXstreet.com (San Francisco)--after falling around 160 pips from the 128.85 at the beginning of the American session, the EUR/JPY found support at 127.25 where the pair bounced up to operate again above 128.00 area, and to test the level of 128.40.

Currently, the EUR/JPY is trading around 128.18, flat on the day. The prospect in the short-term bullish has become slightly in the graph of 15 minutes according to the trend of FXstreet.com index. Indicators such as MACD, CCI and Momentum are tiptoeing towards the North, whereas the stochastic is neutral.

Above the 128.40 EUR/JPY next resistances are 129.10 and 129.65 130.00. On the negative side, below the 128,00, the brackets are to 127.50 127.30.