EUR/JPY: Broader Bias Remains Higher

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EUR/JPY: Broader bias continues to point higher suggesting further upside is likely as EUR/JPY is seen strengthening. Resistance resides at the 135.00 level.

However, the pair will have to retake the 135.49 level to trigger its broader medium term uptrend now on hold.

Further out, resistance resides at the 136.50 level followed by the 137.00 level. A break of here will pave the way for a run at the 137.50 level with a push through that level aiming at the 136.50 level.

Conversely, support lies at the 132.00 level where a breach will aim at the 131.21 level where a breach will aim at the 130.50 level and possibly blower towards the 130.00 level. All in all, the cross remains biased to the upside in the medium term.

Guest post by FX Tech Strategy

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