EURJPY- With a temporary bottom formed and recovery higher triggered, further strength is now envisaged. On the upside, resistance resides at the 137.50 level where a break if seen will threaten further upside towards the 1.38.00.
Further out, resistance resides at the 139.27 level where a break will aim at the 140.00. We may see a breather here but if that fails, further gains could follow towards the 140.50 level. Support comes in at the 136.50 level where a breach will target the 136.00 level.
A turn below here will aim at the 135.50 level where a violation if seen will aim at the 135.00 level. All in all, the cross remains biased to the upside in the nearer term.
