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EUR/JPY losing the bulls commitment

FXStreet (Guatemala) - EUR/JPY is trading at 136.99, up 0.08% on the day, having posted a daily high at 137.27 and low at 136.80.

EUR/JPY is pressing on the 137 handle after attempts that couldn’t commit the bulls through key 137.20 resistance. Meanwhile, momentum is slowing up to the downside here and Karen jones, chief analyst at Commerzbank explains that her team remains overall bearish and targets are the 133.50/23.6% retracement of the entire move from 2012-2013 en route to 130.00. “Above 138.01, key resistance lies at 140.00/32, the 2014 downtrend”.

EUR/JPY hourly levels

Spot is presently trading at 136.99, and next resistance can be seen at 137.01 (Hourly 20 EMA), 137.17 (Daily 20 SMA) and 137.27 (Daily High). Support below can be found at 136.90 (Daily Classic PP), and 136.83 (Weekly Classic PP).

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