Daily Technical Strategist on EURJPY
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EURJPY: Builds Up On Strength
EURJPY- Having closed higher on Wednesday and followed through on Thursday, further strength is envisaged. This development should see the cross target the 135.57 level initially. On the other hand, resistance lies at the 136.00 level where a break will aim at the 136.50 level where a break if seen will threaten further upside towards the 137.00. Further out, resistance resides at the 137.50 level. On the downside, support comes in at the 134.50 level where a break will aim at the 134.00 level. A turn below here will target the 133.50 level with a breach turning focus to the 133.00 level. All in all, the cross now faces a recovery threat.