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EUR/JPY finds support at 144.75

FXStreet (Córdoba) - The euro rose at the beginning of the week against the yen and reached a fresh 6-year high, but failed to hold and pulled back, erasing gains.

EUR/JPY peaked at 146.53 and then moved to the downside. The decline from the highs found support at 144.75. The pair closed a bullish gap and lost momentum.

EUR/JPY in ranges

In the short term the pair is moving sideways with resistance below 145.50 and support around daily lows, at the 144.75 area. The long term trend remains bullish but the intraday bias has change to sideways.

The decline of EUR/USD is adding pressure to the EUR/JPY that holds, supported by the recovery of USD/JPY that rose back above 116.00.

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