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EUR/JPY remains a bearish play below 138.79

FXStreet (Guatemala) - EUR/JPY is trading at 137.27 having posted a daily high at 137.35 and low at 137.18.

EUR/JPY spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. Karen Jones, chief analyst at Commerzbank explained that they will retain their medium term bearish forecast while EUR/JPY remains below the next higher 138.79 late February low on a daily chart closing basis. “Above 138.79, key resistance lies at 139.96/140.09, the March, April lows, June high and 2014 downtrend line”.

EUR/JPY support and resistance levels

Support levels: 136.90 136.40 136.00

Resistance levels: 137.35 137.60 138.00

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