EURJPY- The cross’s upside bias remains intact with eyes on its overhead resistance at the 131.11/30 levels. This zone if taken out will turn focus to the 132.00 level followed by the 133.00 level and then the 133.81 level.
We will have to see the cross climb back above here to resume its broader medium term upside strength towards the 134.50 level. Conversely, support lies at the 126.20 level. Further down, support comes in at the 124.95 level.
A break of here will aim at the 123.00 level. All in all, the cross remains biased to the upside in the medium term.
Guest post by FXTechstrategy Team
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