EURJPY is retreating during today’s European session while it has been trading within a narrow range over the last almost two weeks, with upper boundary at the 136.20 resistance level and lower boundary at the 135.15 support barrier. The pair managed to crawl back towards 135.15 after the bounce off the mid-level of the Bollinger band and a break below the narrow range could endorse the downward pressure until the 134.40 price level, which is the 23.6% Fibonacci retracement level of the up-leg from 127.50 to 136.60. As a side note, euro/yen needs to go through the 135.00 critical psychological barrier before it ... (full story)