EURJPY Rejects Lower Prices, Risk Points Higher
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EURJPY: The cross continues to reject downside price leaving risk of a move higher. If more strength is seen expect additional recovery towards 135.50 level where a break will turn attention to the 136.00 level. Further out, resistance lies at the 136.50 level where a break will aim at the 137.00 level. A turn above here will target the 137.50 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, support resides at the 134.50 level. Further out, resistance resides at the 134.00 level where a break if seen will threaten further upside towards the 133.50. Further out, resistance comes in at the 133.00 level. All in all, the cross now faces upside risk in the nearer term