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EUR/JPY upside limited on weak EUR

FXStreet (Guatemala) - EUR/JPY is trading at 137.54, up 0.34% on the day, having posted a daily high at 137.61 and low at 137.01.

EUR/JPY maintains form in the upper half of the 137 handle. Valeria Bednarik, chief analyst at FXStreet explained that some news coming from Japan suggests the country is considering adding 1T of stimulus, which should continue to undermine any possible yen strength, something yet to be confirmed. “The EUR/JPY however, quickly approaches the 137.60 level with the news, with the hourly chart showing a mild positive tone coming from technical readings, as price advances above flat moving averages, while indicators stand in positive territory, not yet reflecting latest advance. In the 4 hours chart technical readings present also a bullish tone yet gains should remain limited if EUR continues weakening across the board”.

EUR/JPY support and resistance levels

Support levels: 137.30 136.80 136.40

Resistance levels: 137.60 138.00 138.40

EUR/JPY upside limited on weak EUR

EUR/JPY is trading at 137.54, up 0.34% on the day, having posted a daily high at 137.61 and low at 137.01.
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