The cross enters near-term corrective phase off fresh high at 134.93, posted on 19/09, after the price broke below two-day consolidation range floor at 134.15. With psychological 134.00 support, also hourly 55DMA, being cracked, hourly indicators sliding into negative territory, suggest further easing. The notion is supported by 4-hour indicators emerging from overbought zone, with strong support at 133.35, previous high of 11/09 and 50% retracement of 131.85/134.93 upleg, coming in sight. Dips should be ideally contained at/above 133 handle, also 61.8% retracement, to keep bulls in play for fresh attempt towards 135.00 barrier. As larger picture maintains firm bullish tone, confirmed on a completion of weekly bullish pennant that suggests further upside, as a part of larger uptrend from 94.10, 2012 low.
Resistance: 134.15; 134.72; 134.93; 135.66
Support: 133.75; 133.35; 133.00; 132.63
EUR/JPY" title="EUR/JPY" src="https://d1-invdn-com.akamaized.net/content/pic0020dccd5dd7d5431d23546977ccf83a.png" height="400" width="800">