FXstreet.com (Córdoba) - The Yen is higher today after falling sharply on Monday against European currencies. The Pound failed to hold above 150.00 and currently trades at 149.80/85, after rebounding at 148.97 (intra-day low). GBP/JPY peaked yesterday at 151.60 posting a fresh 1-week high.

The Euro failed to confirm levels above 135.00. EUR/JPY jumped a few hour ago to 135.40 (intra-day high) but rebounded sharply and fell to 134.40. Currently it trades at 134.60/70, 0.21% below today's opening price. The pair bottomed during the Asian session at 134.22.

Valeria Bednarik, Fxstreet.com collaborator, comments on EUR/JPY: Hovering around 135.00, and fighting the daily 20 SMA plus the 38.2% retracement of the last daily up leg, pair needs to clearly overcome 135.65 to run higher, yet with an immediate resistance around 136.10. Yet under 134.70, pair could extend the downside to the 134.20 area, supported by hourly indicators. Under the last, next support comes at 133.80.