EURJPY: The cross was seen returning to upside towards its broken support turned resistance level at the 133.14/43 zone during early Friday trading today. This is coming on the back of its price rejection on Thursday triggered from the 131.58 level. With that reversal putting EURJPY above the 132.22 level, another key support, a build up on that recovery is expected. Support comes in at 132.50 level where a break will target the 132.00 level. A move further lower will expose the 131.50 level followed by 131.00 level. Conversely resistance is seen at the 133.50 level where a break will turn attention to the 134.00 level. Further out, resistance lies at the 134.50 level where a break will aim at the 135.00 level. All in all, the cross remains biased to the downside in the short term but faces recovery threats
By www.fxtechstrategy.com