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EUR/JPY trades with upside bias towards 143.79

FXStreet (Guatemala) - EUR/JPY is trading at 142.52, up 0.28% on the day, having posted a daily high at 142.60 and low at 141.70.

EUR/JPY has been up again to test out the space around the 141.21 September high where it is struggling. Karen Jones, chief analyst at Commerzbank explained that intraday charts are suggesting a retracement to 140.80/139.75 prior to further strength. “Above 142.56 targets the 143.79 March high and 144.50 – the 35 year resistance line, where we look for it to fail. It is in new 6 month highs. We will assume an upside bias while above 137.05, the low seen on the 30th October. Below here will neutralise the chart again”.

EUR/JPY note worthy levels

Spot is presently trading at 142.53, and next resistance can be seen at 142.59 (Yesterday's High), 142.60 (Daily High), 143.01 (Daily Classic R1), 143.58 (Weekly Classic R2) and 143.89 (Daily Classic R2). Next support to the downside can be found at 142.13 (Weekly Classic R1).

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