The euro currency is attempting to move higher against the Japanese yen after the pair found strong buying interest from the 132.65 price area this week. The four-hour time frame shows that a large head and shoulders pattern will be invalidated if the price moves above the 134.10 resistance level. A rally of around 150 points is likely to take place in the EURJPY pair if the pattern is invalidated later today.
The EURJPY pair is only bullish while trading above the 133.30 level, key resistance is found at the 134.10 and the 135.55 levels.
If the EURJPY pair trades below the 133.30, sellers may test the 133.00 and 132.65 support levels.
