EUR/JPY - Buying Interest Seems to be Stalling
EUR/JPY continues to move within its declining channel, after breaching the key support at 136.23. Another support stands at 134.11. Hourly resistances can be found at 137.25(14/08/2014 high) and 138.03 (01/08/2014 high).
A decisive break of the key support at 136.23 (04/02/2014 low) would invalidate the long-term succession of higher lows. The long-term technical structure remains positive as long as the support at 134.11 (20/11/2013 low) holds. A strong resistance lies at 140.09 (09/06/2014 high).