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EURJPY: Triggers Recovery, Eyes Key Resistance

EURJPY- The cross turned sharply higher during early trading today suggesting further upside. However, as long as EURJPY continues to hold below the 135.98/136.56 levels, broader risk remains lower. On the downside, support comes in at the 134.50 level where a break will aim at the 134.00 level. A turn below here will target the 133.50 level with a breach turning focus to the 133.00 level. Resistance lies at the 135.98 level where a break will aim at the 136.50 level where a break if seen will threaten further upside towards the 137.00. Further out, resistance resides at the 137.50 level All in all, the cross now faces a retarget of its key resistance.

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