This pair – like the EURUSD – traded at the week’s low in the early
hours of Monday’s trade.
The rest of the week, has seen the price traded up and down between a high of 134.34 and a low of 132.37. The
price is currently testing that low support area. A break should solicit
more momentum to the downside. Much will be dependent on whether the
USDJPY can break and scoot below the 117.17 level. So far, the bell
rang, the buyers salivated and have taken the USDJPY back to the 117.40
from 117.28. EURJPY has also bounced a little as well. The markets
are moving toward the Friday afternoon soon. So risks will be dependent
on the flows as traders consider the gap risk over the weekend.
source:
Forex technical trading: EURJPY testing recent lows | ForexLive
