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EUR/JPY support remains firm at 135.20

FXStreet (Barcelona) - EUR/JPY is trading at 135.48, down -0.02% on the day, having posted a daily high at 136.09 and low at 135.13.

EUR/JPY broke up to test the 136 handle while further near term resistance lies at 136.50/136.90 being the Fibo and accelerated downtrend. 135.20 is holding the pair firm while Karen Jones, chief analyst at Commerzbank explained that the market is regarded as being under pressure while below the 138.45 pivot and said risks are on the downside. “Near term rallies need to regain the 200 day ma at 139.32 in order to reassert upside pressure at this point and this is not favoured”.

EUR/JPY noteworthy levels

Spot is presently trading at 135.47, and next resistance can be seen at 135.55 (Hourly 20 EMA) and 135.71 (Daily Classic PP), 1.3600 and 1.3650/90. Next support to the downside can be found at 135.20 (Weekly Classic S1), 135.13 (Daily Low), 135.04, 134.84 (Daily Classic S1) and 134.46 (Weekly Classic S2).

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