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EURJPY Falters, Backs Off Ahead Of The 137.04/44 Area

EURJPY: The cross may remain biased to the upside following its recent strength but it was seen backing off ahead of its key overhead resistance zone at the at 137.44/04 region during the Monday trading session. If this price action continues it could see EURJPY targeting further downside pressure towards its psycho level at 136.00 level. Below here will turn attention to the 135.50 level where a break will aim at the 135.00 level. A turn below here will target the 134.50 level with a breach turning focus to the 134.00 level. On the other hand, resistance lies at the 137.00 level. Further out, resistance comes in at the 137.50 level where a break if seen will threaten further upside towards the 138.00. A violation of that level shifting interest to the 138.50 level. All in all, the cross now faces downside pressure on price pullback as long as the 137.04/44 zone remains unbroken

EURJPYDaily

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