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EUR/JPY stalling on the recovery at 147.20 resistance

FXStreet (Guatemala) - EUR/JPY is trading at 147.11, down -0.01% on the day, having posted a daily high at 147.42 and low at 146.30.

EUR/JPY has still been benefitting from the German IFO numbers yesterday despite a comeback in the Yen overnight with supply in USD/JPY taking the major through the 118 handle before the recovery back into more positive territory. EUR/JPY recovered from 146.40 into 147.20 resistance on two waves meeting strong resistance at 147 initially on the recovery.

At the time of writing, RSI is neutral at 66.25, up from 59.58 at the last hour close. Meanwhile, daily RSI is also in neutral territory at 68.70. Drivers ahead now are likely to come in the form of the next ECB meeting, US data and Japan's inflation numbers this week in the main.

EUR/JPY noteworthy levels

With spot trading at 147.11, we can see next resistance ahead at 147.14 (Daily Open), 147.26 (Hourly 100 SMA), 147.36 (Yesterday's High), 147.42 (Daily High) and 147.80 (Daily Classic R1). Support below can be found at 146.80 (Hourly 20 EMA), 146.69 (Daily Classic PP), 146.61 (Weekly Classic PP), 146.30 (Daily Low) and 146.2 (Hourly 200 SMA).

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