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EURJPY: Vulnerable While 133.14/43 Caps Upside Pressure

EURJPY: The cross saw a decline on Tuesday and was seen following through lower during Wednesday trading session today. This leaves more risk lower while it trades below its key resistance zone at the 133.14/43. Support comes in at the 132.00 level where a break will aim at the 131.50 level. Further down, a turn below here will shift attention to the 131.50 level with a breach will turn focus to the 131.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance lies at the 133.00 level. Further out, resistance comes in at the 133.50 level where a break if seen will threaten further upside towards the 134.00. Further out, resistance resides at the 134.50 level. All in all, the cross faces further downside pressure below the 133.14/43 region.

EURJPYDaily

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