EURJPY: Maintains Medium Term Uptrend Despite Pullback Threats

[FXTechstrategy]

EURJPY- Despite its mild price pullback, its broader medium term upside bias remains intact. However, the pair will have to retake the 135.49 level to trigger its broader medium term uptrend now on hold. Further out, resistance resides at the 136.50 level followed by the 137.00 level. A break of here will pave the way for a run at the 137.50 level with a push through that level aiming at the 136.50 level. Conversely, support lies at the 132.00 level where a breach will aim at the 131.21 level where a breach will aim at the 130.50 level and possibly blower towards the 130.00 level. All in all, the cross remains biased to the upside in the medium term.

[FBS]

EUR/JPY has hit a fresh 5-year low at 139.70. Japan published a large block of mixed statistics in the Asian session: consumer inflation indices came above the forecasts, but the industrial production unemployment rate and consumer confidence disappointed to the downside.