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EUR/JPY back below 137.00

FXStreet (Córdoba) - The EUR/JPY continue to decline on Thursday and fell to 136.40, hitting the lowest price in two weeks. After bottoming the pair rebounded and recovered ground but found resistance below 136.85.

The last time the Euro rose against the Yen was last week. Since then it has been moving with a bearsih bias and is about to post the lowest daily close since August 7.

EUR/JPY technical outlook

According to Valeria Bednarik, Chief Analyst at FXStreet, the 4-hour chart shows a bearish outlook, “albeit indicators seem to be losing the downward strength as per turning flat in negative territory: some follow through below mentioned daily low however, exposes the pair to a downward continuation towards 135.70 area, early August lows”.

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