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EUR/JPY dips below 138.00; more losses in store

FXStreet (Moscow) - EUR/JPY retraced from Asian high at 137.04 towards current level at 136.88 on the back of EUR weakening against USD.

Rangeboud for the time being

EUR/JPY slid below 137.00 level and touched new monthly low at 136.55. The cross has been pressured down lately as JPY is growing across the board. While the European calendar is next to empty, the cross may experience another period of volatility on the back of technical factors coupled with speculations about changed BOJ attitude towards weaker JPY. Keep an eye at 136.35 on the downside as this level might keep bears at bay for the time being. Once it is broken, 136.00 will come into sight. The upside is likely to be limited by 137.00/04 (Asian high)

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 137.07, with support below at 136.35, 135.84 and 135.12, with resistance above at 137.58, 138.31, and 138.82. Hourly Moving Averages are mixed with the 200SMA bearish at 137.95 and the daily 20EMA bearish at 138.12. Hourly RSI is bearish at 46.

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