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EUR/JPY consolidates just below 136.50

FXStreet (San Francisco) - The Euro is trading positive on Monday versus the Japanese Yen as the unique currency is recovering from sub-136.00 levels traded overnight and now the EUR/JPY is testing the 136.50 area.

Currently, EUR/JPY is trading at 136.49, up 0.28% on the day, having posted a daily high at 136.52 and low at 135.89. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish.

EUR/JPY Sentiment

According to the independent analyst Jarratt Davis, the EUR/JPY is slowly grinding higher, "we are bearish on the euro however as Japan are in the middle of a QE programme I still expect this pair to make its way higher."

If the pair manages to break above 136.50, it will face next supports at 136.60 and 136.90. On the downside, supports are 136.30, 135.90 and 135.70.

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