News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EUR/JPY Technical Analysis: Testing Above 137.00 Anew

EUR/JPY Technical Analysis: Testing Above 137.00 Anew

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • EUR/JPY Technical Strategy: Flat
  • Support: 136.65, 136.22-23, 135.97
  • Resistance: 137.08, 137.34, 137.55

The Euro is attempting to mount a cautious recovery having found interim support against the British Pound below the 137.00 figure. A daily close above resistance at 137.08, the 76.4% Fibonacci expansion, initially exposes the 61.8% level at 137.34. Alternatively, a move through support at 136.65 – marked by the 100% Fib and a falling channel floor in play since late May – exposes the 136.22-23 zone bracketed by the 123.6% expansion and the February 4 low.

Prices are too close to resistance to justify entering long from a risk/reward perspective. On the other hand, the absence of a defined bearish reversal signal argues against taking up the short side. We will remain flat for now.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

EUR/JPY Technical Analysis: Testing Above 137.00 Anew

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.