Search ForexCrunch

EURJPY- With EURJPY turning lower on a sell-off during Tuesday trading session, the risk is for more weakness to occur.

Support comes in at the 137.50 level where a break will aim at the 137.00 level. A break will target the 136.61 level with a breach turning focus to the 136.00 level. Below here will aim at the 135.50 level.

Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 138.50 level where a break if seen will threaten further upside towards the 138.92. Further out, resistance resides at the 139.50 level where a break will aim at the 140.00. All in all, the cross continues to face correction weakness risk.