The EURJPY is currently testing the overnight low in the mid 90’s. This comes as the Nikkei has given up early gains to trade in negative territory on the back of the Shanghai Composite opening down. A convincing break below 132.90 may see some downward pressure for a move to 132.50 then 131.70.
Technically EURJPY is trading below the Ichimoku cloud. The top of the cloud comes in at 133.80, which should prove to be solid resistance for the Asian time zone.
Watch the Asian Bourses for clues.
