Home EURJPY Remains At Risk Below The 136.96/137.44 Area
Forex Bits

EURJPY Remains At Risk Below The 136.96/137.44 Area

EURJPY: The cross took back most its previous week gains to close lower on Friday. This development leaves it vulnerable to the downside in the days ahead. While holding below the 136.96/137.44 zone,its key overhead resistance, risk remains lower.

Support comes in at the 135.00 level where a break will aim at the 134.50 level. A turn below here will target the 134.00 level with a breach turning focus to the 133.50 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 136.00 level. Further out, resistance comes in at the 136.50 level where a break if seen will threaten further upside towards the 137.00. Further out, resistance resides at the 137.50 level. All in all, the cross now faces downside pressure.

eurjpy

FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.