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  • The EUR/JPY has seen steady lift in July, closing on the green for nine consecutive trading days.
  • The current intraday action is hesitating near recent peaks, and continued softness will see a bearish correction begin to form up.
  • The pair’s pattern of consecutive lower highs on Daily candles has broken after July saw a break of June’s peaks near 130.35.

EUR/JPY Chart, 15-Minute

Spot rate:   131.56
Relative change:   -0.01%
High:   131.76
Low:   131.50
Trend:   Flat to bullish
Support 1:   131.06 (current week low)
Support 2:   130.69 (61.8% Fibo retracement level)
Support 3:   129.90 (July 11th swing low)
Resistance 1:   131.76 (current day high)
Resistance 2:   131.97 (current week high)
Resistance 3:   132.42 (March 13th swing high)