The EUR/JPY is currently eroding daily support just to the upside of 112.00, as an all-around risk averse sentiment hangs over the marketplace given the ineptitue of the US political system to raise the debt ceiling. The pair had earlier reached as high as 113.00 over the Asian session, however cautioun has favored the typically considered safe-haven yen since then.
While the EUR/JPY so far has not broken support at 112.00, if that goes expected further critical levels at 111.68 (Tenkan-Sen Line) and 111.44 (Daily Low Jul 21). To the upside, resistance is placed at 113.02 (Session High Jul 25), 113.57 (Daily High Jul 22) and 113.66 (Kijun-Sen Line).
While the EUR/JPY so far has not broken support at 112.00, if that goes expected further critical levels at 111.68 (Tenkan-Sen Line) and 111.44 (Daily Low Jul 21). To the upside, resistance is placed at 113.02 (Session High Jul 25), 113.57 (Daily High Jul 22) and 113.66 (Kijun-Sen Line).
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