EURJPY looking to do a short-term bearish consolidation

EURJPY continues to trade lower and now it’s consolidating below the 200 SMA at H1 chart.

We should expect a decline until the supportlevel of 135.33, a zone which has to be broken in order to reach the next important low around the 134.96 level. Bear in mind this pair is currently moving below the daily pivot point level of 135.91.

In another outlook, EURJPY could start an upside journey when it breaks the resistance zone of 136.86. MACD indicator is entering at positive territory.

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