EURJPY- The cross remains biased to the upside though hesitating. In such case, further upside will aim at the 139.00 level followed by the 139.50 level where a breach will aim at the 139.95/8 level. Further out, resistance resides at the 140.94.
We may see a breather here but if that fails, further gains could follow towards the 141.50 level. A cut through here will target the 142.46 level. On the downside, support lies at the 138.13/137.97 levels. This level could hold and turn the cross back up but on continued hold below that zone, support lies at the 137.50 level.
A violation will target the 137.00 level and then the 136.50 level. All in all, the cross remains biased to the downside though recovering.
Guest post by FX Tech Strategy
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