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EURJPY: Bearish, Faces Further Downside Pressure

From blog.fxtechstrategy.com

EURJPY- The cross remains weak and vulnerable as long as it holds below the 142.41 level. With a follow through lower on the back of its Wednesday losses seen, further weakness is expected in the days ahead towards the 138.48 level, its .50 Fib Ret (its 131.21-145.68 rally). Further down, support comes in at the 138.00 level, its psycho level where a violation will aim at the 137.50 level. A cut through that level will open the door for a run at the 137.00 level and then the 136.76 level, its .618 Fib Ret. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, resistance resides at the ... (full story)

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