EUR/JPY pressing against 137.00/20, weak Tk/Kj cross on the hourly

FXstreet.com (Barcelona) – EUR/JPY came down to test intraday support zone at 137.10/20 after failing to maintain most of its daily gains along the US session, with 138.00 offers blocking the steady bullish progress.

EUR/JPY, weak Tk/Kj cross on the hourly

From an ichimoku standpoint, the pair had a weak tenkan/kijun cross on the hourly, an occurrence which paves the way for price to test the top of the cloud (Senkou span A) just below 137.00, a level converging with the 20-ema on the H4 chart. Higher time frames still support the bullish bias, and so far, the retracement is simply …read more