EUR/JPY Eyes Further Bear Pressure On Price Failure

EUR/JPY: Having turned back lower following a reversal of its intra day gains during Wednesday trading session, EUR/JPY eyes further bear pressure. This view remains valid as long as the cross trades and holds below the 132.79/99 zone. Resistance resides at the 132.50 level with a break above that level paving way for strength to develop towards the 133.00 level. Above here will aim at the 133.50 level. Further out,  a turn above here will shift attention to the 134.00 level with a breach turning focus to the 134.50 level. Conversely, support comes in at the 131.50 level. Further down, support stands at the 131.00 level where a violation will aim at the 130.50 level. All in all, EUR/JPY eyes further bear pressure while holding below the 132.79/99 zone.

 

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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