Since May, this year, 138.00 has played a significant role in this pair. It was support for couple of months, then resistance for a month ++, then price broke back above it, rallied to 141.XX only to sell off to 134.XX.
And now, we are back in the same area again. Wonderful!
As history shows, price can go in either direction from here and hence, I'm not going guess which direction it is going to be this time and instead I'll focus on the 2 areas marked on the chart.
Comments
capitalpropertiesfx
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As mentioned yesterday, anything can happen around the 138.00 level. EURJPY reached my "Area of interest" but I'm not going to act because the move was triggered by BOJ QE announcement. Hence I'll wait until things calm down and let the market decide what it wants to do.