Daily Technical Strategist on EURJPY
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EURJPY: Weakens, Eyes Further Downside
EURJPY- Having triggered a corrective pullback, further weakness is envisaged. This is coming on the back of price pullbacks on the lower level charts on Friday and a long tailed candle formation. Resistance lies at the 134.50 level. Further out, resistance resides at the 135.00 level where a break if seen will threaten further upside towards the 136.00. Further out, resistance resides at the 136.50 level. On the downside, 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 faces price hesitation suggesting an impending pullback.