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EUR/JPY testing 137.20 key support zone

FXStreet (Guatemala) - EUR/JPY is trading at 137.19, down -0.12% on the day, having posted a daily high at 137.47 and low at 137.16.

The EUR/JPY dropped 20 pips to test key support here and creates a gap on the charts and remains in bearish territory despite a bullish run up from the handle of 137 last week. Valeria Bednarik, chief analyst at FXStreet explained conditions surroundings the pair from a technical point of view and said, “In the 4 hours chart technical readings also head south below their midlines, albeit showing little momentum at the time being. A downward acceleration below 136.90 however, should fuel the slide eyeing then September lows around 135.80”.

EUR/JPY support and resistance levels

Support levels: 137.20, 136.90 136.40 136.00

Resistance levels: 137.90 138.50 139.15

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