Technical analysis of EUR/JPY for July 22, 2014



The hourly oscillators favor the pullback mode. The pair is holding above the hourly moving averages. In Asia's session, it is facing resistance at 137.39-137.45. Fresh buyers can buy above 137.50 with targets at 137.75 and 138 levels. On the down side, the pair has support at 137 and 136.85 levels. Below 136.85, the pair looks weak. On the down side, the pair has weekly support at 136.20/136 levels.
A day close below 136, it can drift up to 134 levels. A day close above 137.75, the pair can fly up to 138.50 on a positional basis.
Intraday buying is only above 137.50 with targets at 138, 138.25, 138.40 and 138.50.

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