EUR/JPY has been static while the FXStreet Trend Index is slightly bullish. Valeria Bednarik, Chief analyst at FXStreet explained that the Yen eased some against its rivals in the US session as US stocks surged for second day in a row on the back of strong gains from techs. “Nevertheless, the recovery was not enough to set a bullish tone, with the hourly chart showing price struggling around the 138.40 static resistance level”. She added, “If Asian share markets follow their overseas partners, there’s a chance the pair may continue recovering, looking then for an approach to the 139.00 price zone”.
Current price is 138.41, with resistance ahead at 138.45 (Daily High), 138.46 (Daily Classic R1), 138.57 (Yesterday's High), 138.66 (Weekly High) and (Weekly Classic PP). Next support to the downside can be found at 138.38 (Daily Open), 138.33 (Hourly 20 EMA), 138.28 (Daily Low), 138.13 (Hourly 100 SMA) and 138.12 (Yesterday's Low).