EUR/JPY: The cross remains offensive following its corrective recovery triggered during Monday trading session. This is coming on the back of its Friday rejection candle print. EUR/JPY now faces the challenge of breaking and holding above its key resistance zone the 133.14/43 zone. Above here if seen will turn risk higher towards the 134.00 level. Further out, resistance comes in at the 134.50 level where a break if seen will threaten further upside towards the 135.00. Further out, resistance resides at the 135.50 level. On the other hand, support comes in at the 132.50 level where a break will aim at the 132.00 level. A turn below here will target the 131.50 level with a breach turning focus to the 131.00 level. All in all, the cross now remains biased to the upside nearer term.
EUR/JPY Daily Chart