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EUR/JPY backs away from 137.00

FXStreet (Córdoba) - EUR/JPY pulled back sharply from fresh 3-week highs as the yen strengthened across the board after a soft weekly opening. The euro on the other hand, remained vulnerable after the German Ifo miss and banks stress test results.

EUR/JPY reached a high of 137.35 earlier on the day but failed to hold gains above the 137.00 level and fell to the 136.60 zone. At time of writing, the pair is trading at 136.65, recording a 0.22% loss on the day.

EUR/JPY technical levels

As for technical levels, EUR/JPY could find next supports at 136.48 (Oct 24 low), 136.22 (10-day SMA) and 136.00 (psychological level). On the other hand, resistances are seen at 137.35 (Oct 27 high) and 137.51 (50-day SMA) ahead of 137.64 (100-day SMA).

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