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Slightly better-than-expected monthly German IFO business confidence survey had little effect on the single currency.
- EUR/JPY cross remains on the negative footing on Monday, trading in a narrow 133.82/36 range
- EUR/JPY is currently trading at 133.45, with immediate resistance at 133.90 (Session High Oct 26) ahead of 134.26 (Daily High Oct 23)
- Supports on the downside are located at 133.36 (Daily Low Oct 23) and then at 133.30 (Double bottom, trendline support)
- Break below major trendline support at 133.30 could pave way for further downside, pair could target 132.95 and then 132.23 (sept 4th low)
Resistance Levels:
135.06 Tenkan-Sen)
134.81 Daily Low Oct 15)
134.26 (Daily High Oct 23)
133.90 (Session High Oct 26)
Support Levels:
133.36 (Daily Low Oct 23)
133.30 (Double bottom, trendline support)
132.96 (Daily Low Sep 8)
