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EURJPY- With the cross taking back most of its intra day losses to close slightly lower on Wednesday, it continues to hold on to its recovery risk. On the upside, resistance resides at the 137.50 level where a break if seen will threaten further upside towards the 138.50.

Further out, resistance resides at the 139.00 level where a break will aim at the 140.00. On the downside, support comes the 136.00 level where a break will aim at the 135.00 level. A break will target the 134.00 level with a breach turning focus to the 133.00 level. All in all, the cross continues to face downside pressure.