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    Technical analysis of EUR/JPY for July 24, 2015

    JPY- The Flash Japan Manufacturing PMI came out at 51.4 (50.1 in June). Operating conditions improved at fastest pace since February .


    Today is a big day in the context of PMI data. Data on French, German, and euro flash manufacturing and flash services is due.

    The cross has been trying to breach 136.50 in the H1 chart. The Greek concerns are fading and the euro is slowly taking grip against JPY and CAD.

    The EUR/JPY cross lost 50& 200Dsma in the daily chart (136.85 and 137.00). Until the cross holds 133.09, buy on dips. A daily close above 137.00 enables bulls to aim for 137.70 initially and 141.00 later.

    Intraday support is found at 135.60 and 135.30. Resistance is seen at 136.00 and 136.30. Fresh risky buying is available above 136.30, safe buying is available above 136.50.

    For bears selling is available below 135.20 with targets at 135.00 and 134.85.


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