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EURJPY Looks To Follow Through Lower On Bear Pressure

EURJPY: With the cross selling off on Friday to close the week lower, we envisage a follow-through lower in the days ahead. Support comes in at the 135.00 level where a break will aim at the 134.50 level. A turn below here will target the 134.00 level with a breach turning focus to the 133.00 level. Its weekly RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 136.00 level. Further out, resistance comes in at the 137.00 level where a break if seen will threaten further upside towards the 137.50. Further out, resistance resides at the 138.00 level. All in all, the cross now faces downside pressure on price failure.

EURJPYDaily

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