EUR/JPY recovers from 3-week lows

EUR/JPY is rising on Monday for the second trading day in row boosted by a lower yen across the board while the euro,  despite falling against the US dollar, climbs versus its European rivals. The pair continues to recover after bottoming on Friday at 112.30, the lowest level since July 11.

Above 113.50

After the beginning of the American session EUR/JPY peaked at 113.75, 6-day high. It was trading at 113.55/60 holding above 113.50, up 0.58% for the day.

The pair is moving with a clear intra-day bullish bias. A retreat below 113.00 could put last week lows under pressure.

To the upside, resistance levels might lie at 113.75 (daily high), 114.00/05 (Aug 1 low) and 114.75/80 (Aug 1 & 2 high). On the opposite direction, support could be seen at 113.35/40 (Asian session high), 112.90 (daily low) and 112.30 (Aug 5 low).