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Forex pairs in this Article » EUR/USD (Barcelona) - EUR/JPY has come under pressure after a topside failure at the critical 135.40, with a 5-hour bearish swing currently developing into new day lows at 134.90.

EUR/USD hardens EUR/JPY bulls task

According to Haruya Ida, Analyst at IFR Markets: "Some caught long – some bought as proxy for top-restrained EUR/USD, which with a large, expiring 1.3500 vanilla options resulting in related sales."

EUR/JPY technicals

From a daily perspective, unless above 135.40/50, sellers will likely keep pressing expecting a rotation lower off the upper end of what seems to be a 4 cents wide day range between 131.60 and 135.40/50. The key support to allow further downside should be 134.50 - swing low Nov 15 - with a break bringing 134.00 into play.
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