EUR/JPY rising for the first time in a week

FXStreet (Córdoba) - The Euro is about to post the first daily gain in more than a week against the Yen, recovering modestly from 2-week lows. During the Asian session price found support around 136.65 and then bounced to the upside, despite EZ economic data and peaked at 137.03.

The EUR/JPY failed to hold above 137.00 and pulled back. It was trading at 136.93, 25 pips above Friday’s closing price. A weak Yen pushed the pair to the upside.

EUR/JPY levels to consider

To the upside, the key resistance continues to be around 138.00. The mentioned area was tested twice during August but capped the upside. On the other direction, an important support lies around 136.40; the pair traded below but always rebounded. A daily close under 136.40 could signal a bearish continuation of the dominant trend.