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EUR/JPY recovers from 6-day low

FXStreet (Córdoba) - EUR/JPY has managed to trim intraday losses during the American session more thanks to yen weakness than euro’s self strength.

EUR/JPY fell to a 6-day low of 135.49 during the European session, weighed by concerns about the Eurozone banks stress tests, but managed to recover some ground afterward. However, with the bounce being capped by the 136.00 level, the cross was confined to a phase of consolidation in a slim range. At time of writing, EUR/JPY is trading at 135.80, still 0.16% below its opening price.

EUR/JPY levels to watch

As for technical levels, EUR/JPY could find next supports 135.49 (intraday low), 135.02/00 (Oct 14 low/psychological level) and 134.13 (2014 low Oct 16). On the other hand, resistances could be faced at 136.15/20 (10-day SMA/intraday high), 137.00 (Oct 20 high/psychological level/20-day SMA) and 137.53 (50-day SMA).

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