EUR/JPY wants to consolidate 134.70 front

FXstreet.com (Chicago) - EUR/JPY was able to pull off a bounce from 134.61 session lows after retracement from 135.11 session highs and now attempts to consolidate the 134.70 zone ahead of Japanese data releases.

Due data

Later today the merchandise trade balance total will be released in Japan (23:50 GMT). Until then and European construction and ZEW survey facts along with the leading economic index and coincident index results, no news releases might have an effect on the pair’s price.

EUR/JPY Technical Levels

Technically speaking, the pair is offered at 134.70 and oscillates between the supports aligned at 134.47 (November 15th lows), 134.17 (November 14th lows) ahead of 133.75 (November 6th highs) and the resistances set at 134.92 (November 15th highs), 135.34 (October 19th highs) followed by 135.51 (November 6th highs). The pair manifests a double-tops patterns after reaching the 135.30 zone yesterday (also highs with last Friday November 15th). Respecting the upward trendline, the pair presents diverging trends with the primary pointing up but the secondary pointing down on longer-term timeframes.