The EURJPY currently trades at 137 support level. This level was reached on the back of continual Euro weakness.
With the EURUSD now having reached parity, if a retracement occurs, we could see some rebound here on the EURJPY.
However with a trend following trade scenario, look for price to close below the 137 level to signal further downside, returning to trade within the May range of 134 (next support) and 137.
With the EURUSD now having reached parity, if a retracement occurs, we could see some rebound here on the EURJPY.
However with a trend following trade scenario, look for price to close below the 137 level to signal further downside, returning to trade within the May range of 134 (next support) and 137.
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