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EUR/JPY struggles to stay above 137.00

FXStreet (Moscow) - EUR/JPY has settled at its opening level of 137.14 after having traded in the range limited by 137.24 on the upside and 126.94 on the downside

EUR/JPY started Monday with a small gap higher on the back of positive EUR sentiments in Asia. Later during the day a lot will depend on European reaction to stress-tests and German IFO survey. If IFO indices come out in line with expectations or better, EUR may experience a relief rally that might push EUR/JPY higher. From the technical point of view, the nearest strong resistance comes at 137.35. Once firmly above this level, the cross may continue the upside towards 137.90. Otherwise, a failure to finish the day above 137.00 would darken the longer term perspectives of the cross

What are today’s key EUR/JPY levels? 

Today's central pivot point can be found at 136.88, with support below at 136.67, 136.28 and 136.07, with resistance above at 137.27, 137.48,  and 137.87. Hourly Moving Averages are mixed with the 200SMA bullish at 136.17 and the daily 20EMA flat at 136.87. Hourly RSI is bullish at 59.

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