EURJPY: With a follow through lower seen on the back of its Friday weakness today, more decline is now envisaged. Support comes in at the 137.00 level where a break will aim at the 136.50 level. A break will target the 135.72 level with a breach turning focus to the 135.00 level. Below here will aim at the 134.50 level where a violation if seen will aim at the 134.00 level. On the upside, resistance resides at the 137.66 level where a break if seen will threaten further upside towards the 138.00. Further out, resistance resides at the 138.50 level where a break will aim at the 139.27. We may see a breather here but if that fails, further gains could follow towards the 140.50 level. All in all, the cross remains biased to the downside in the short term.
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