Cross-rates signals: EUR/JPY is under pressure

After the worsening of the political situation in Germany and the existing problems of inflation in the euro area, the cross rate keeps downward sentiments, which are confirmed by a slowdown in the general upward trend.

So, on the daily timeframe, the pair EUR/JPY continues to form the second top of the figure “double top”, which in the future may also indicate a more significant reduction of this pair. A significant level of support is 135.00. The breakthrough of this level will open the way to the levels of significant support: 13.40 and 134.10-00.

Fig. EUR/JPY H4. The current price is 135.40.

Hanzenko Anton