EURJPY: Recovers With Caution!
As long as 131.85 support holds on a daily closing basis, the EURJPY remains in a recovery mode and further upside could be seen, but a clear break above 132.95 is needed to prevent a return to the downside If seen it will extend the recovery to the 133.75/134.50 levels, above that level will target the136.00 level. On the downside, a failure to hold gains above the 132.95 levels could mean a return to the 132.35 levels where a cut will aim the 131.85 levels, below that level will restore the downside momentum and pave the way to the 131.35/130.66 levels.
As long as 151.38 resistance holds on a daily closing basis, the GBPJPY remains in a pullback mode and further down could be seen, support comes at the 148.90 levels, a halt is likely and it may turn higher from here but a cut below that level will aim the 147.89/147.00 levels, further down, support comes at the 145.65 levels. On the upside, above 151.38 will restore the upside momentum and pave the way to the 153.00 levels.