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EUR/JPY retreats off session highs to 132.19/26

FXstreet.com (Barcelona) - The EUR/JPY has been sailing upward Tuesday, having spent most of the European session edging higher – during US trading however, the cross has eased off session highs (132.43) to trade at 132.19/26.

In terms of the technical levels, the EUR/JPY is recoding an advance of +0.37% above its opening at the time of writing. Mataf.net analysts cite the next resistances in the short-term window at 132.19, then 132.45, and finally 132.76. Conversely, a movement lower will initiate supports at 131.62, ahead of 131.31, and eventually 131.05.

According to the ICN.com analyst team, “The EUR/JPY continues to trade within the same ranges, moving sideways while RSI continues to show a bearish divergence. A break below 131.10 support is required to confirm a downside breakout of this sideways range. On the other hand, 132.50 should be taken to confirm the continuation of the bullish trend.”

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