EURJPY Daily Outlook

The EURJPY made indecisive movement on Friday, formed a Doji formation on daily chart. I think the pair is in critical phase right now. The bullish momentum since January 21 is now testing key level around 139.20 area. Break above that area should trigger further bullish scenario. The bias is neutral in nearest term. Immediate resistance is seen at 138.27 (Friday’s high). Break above that area should trigger further bullish momentum testing 139.20. Initial support at 136.20. CCI in neutral area on h4 chart.

EURJPY Daily Supports and Resistances:

S1= 136.94

S2= 136.20

S3= 135.54

R1= 138.34

R2= 139.00

R3= 139.74