Focusing on the current slump in EUR/JPY

So few days ago, I've posted an article regarding the needs for Japanese Yen to reach a level comfortable with the EUR in order for the upcoming trade deal to work. The magical number is still unknown as of now but what we could be certain of is that the current level is just too high till it's of a disadvantage to Europe. Read up more on the post over here! https://v3forex.wixsite.com/mysite/single-post/2017/07/21/Japanese-Yen-needs-to-reach-an-equilibrium-with-Euro

Based on the chart captured above, the current level has been persistently lowering down after the high from ECB conference. This morning we've witnessed another 70 pips decrease due to weak PMI results from Europe and strong manufacturing index expectation from Japan.

It's too risky to enter the slide now, however, with the resistance level at 128.46, once it breaches it, a strong 200 pips is in the motion with the next major resistance point at 126.46. Do keep an outlook on this pair as developments continue to unfold!