- Strong gains in EUR posted last Friday helped EUR/JPY hit multi-day highs around 137.00 level
- EUR/JPY was rejected from highs at 136.96 and the pair is now retreating around 0.02% to currently trade at 136.67
- Sustainable breakout still remains elusive, but short-term bias remains higher
- Price action is currently above daily cloud, which spans 135.27-135.62, Stochs and RSI point North
- Also, expectations of further easing by the BoJ by year end keeps capping any JPY bullish attempt, keeping the pair supported
- EUR/JPY is currently trading at 136.70, with immediate support at 136.00 (Hourly Low Oct 9) and resistance at 136.75 (Session High Oct 10)
Recommendation: Good to buy dips around 136. 50, SL: 136.00, TP: 137.30 Resistance Levels:R1: 136.75 (Session High Oct 10)R2: 136.95 (Daily High Oct 9)R3: 137.30 (Daily High Sep 18)Support Levels: S1: 136.00 (Hourly Low Oct 9)S2: 135.72 (Daily High Oct 5)S3: 135.62 (Daily Cloud Top)
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