The euro currency is starting to correct lower against the Japanese yen after the pair hit hard resistance above the 134.00 price level. The one-hour time frame shows that the EURJPY pair has formed bearish Momentum divergence during the latest move higher. A price decline towards the 133.50 support area is required to reverse the negative price divergence.
The EURJPY pair is only bullish while trading above the 133.50 level, key resistance is found at the 134.10 and the 134.30 levels.
If the EURJPY pair trades below the 133.50, sellers may test the 133.25 and 133.00 support levels.
