Search ForexCrunch

EURJPY- The cross remains weak and vulnerable to the downside with risk of further decline envisaged. On the downside, support is seen at the 138.00 level.

Further down, support comes in at the 137.50 level where a breach will aim at the 137.00 level. A violation will target the 136.50 level and then the 136.00 level. Its daily RSI is bearish and pointing lower supporting this view.

Resistance comes in at the 140.00 level where a break will target the 140.94 level followed by the 141.14 level. A cut through here if seen will target the 142.46 level with a turn above here pushing EURJPY towards the 143.00 level.

All in all, the cross remains biased to the downside.

eurjpy

 

Guest post by FX Tech Strategy