- EUR / JPY bounces strongly and clears daily losses.
- 131.00 zone offers support to the euro.
The EUR / JPY erased losses and is trading in the 131.30 / 35 zone, after momentarily falling below 131.00. The euro had a big rebound, driven in part by the rise in the EUR / USD, which returned above 1.2000.
The cross maintains a bearish bias, but the recent bounce eased the downward pressure. After falling to the lowest level in a week against the yen, there was a recovery, giving more relevance to the support at 131.00.
In case of extending the recovery, the next resistance of the cross is located at 131.45 / 50, then at 131.65. In the opposite direction, a return below 131.10 would increase the bearish tone.
The recovery of the price had as The main factor was the advance of the EUR / USD, which after reaching levels below 1.2000, quickly rebounded, boosting the EUR / JPY strongly. The behavior of the dollar is being important for the crossing.
Important data will be released in the next few hours in the US, including the APD employment report and the IHS Markit and ISM from the service sector. Also what happens with the bags will be relevant.
Technical levels
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