EUR/JPY Moves Higher

The EUR/JPY pair broke the resistance level at 130.00 and is now trading at 130.20. The pair is trading in a short term bullish direction but still remains pressured by bearish sentiment in the medium and long term perspective.

As trade fears become a significant factor in the financial markets stage, traders are turning from the unsafe US dollar to its major counterpart the Euro and the all time safe haven asset - Gold.

EUR/JPY moved from a low of 124.65 to its current high in a bit more than a month and it's now beyond the bearish resistance. If it continues to trade to the upside we can see a double top at 133.50 before long.

Chart: EUR/JPY H4