EUR/JPY has curled into a ball below 137.00

FXStreet (Moscow) - EUR/JPY is trading at 136.90, trapped in a tight range with a daily high at 137.01 and low at 136.84.

EUR/JPY is cozy below 137.00

EUR/JPY sticks to 137.00 resistance and shows no signs of desire to break higher yet. The cross has been drifting higher since last Thursday as JPY bulls seemed to have taken days off due to deteriorated domestic sentiments and waning support for Abenomics. While USD/JPY made good progress and broke above 102.00 pivot, EUR/JPY bulls were less decisive as negative EUR sentiments keep them in check. Later during European hours we are waiting for German CPI numbers and various Eurozone confidence surveys to be released, though they would hardly be able to brighten things up for EUR. The cross may attempt to test the waters above 137.00, but a sustained breakthrough is unlikely unless JPY weakens substantially across the board.

What are today’s key EUR/JPY levels?

Today's central pivot point can be found at 136.95, with support below at 136.75, 136.57 and 136.38, with resistance above at 137.12, 137.31, and 137.49. Hourly Moving Averages are mixed with the 200SMA bullish at 136.89 and the daily 20EMA bearish at 137.50. Hourly RSI is bullish at 55.