EURJPY- With EURJPY halting its broader weakness and building slightly higher on the back its recovery off the 138.13 level, it faces further bull risk. In such a case, resistance comes in at the 139.88 level where a break will aim 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 and then the 143.00 level. On the other hand, support comes in at the 138.00 level where a breach will aim at the 137.50 level.
A violation will set the stage for a run at the 137.00 level and then the 136.50 level, its psycho level. All in all, the cross remains biased to the downside but may see a correction.
Guest post by FX Tech Strategy
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