EUR/JPY repelled off 135.30/40 highs as Nikkei starts negative

FXstreet.com (Barcelona) - There is some Yen buying going through in the early going of the Tokyo session, a wave which so far has produced a retracement in the tune of 15-20 pips in all Yen crosses as the Nikkei prints losses of 0.10%.

On EUR/JPY, after being the best performing trade last week, price has moved away from critical 135.30/40 resistance, now approaching immediate support area at 133.00, a round number where bids should support price.

Technically, "momentum in the hourly turned flat losing its upward potential, while the 4 hours shows a stronger momentum in indicators, supporting upward continuation, eyeing 136.20 in the short term" said Valeria Bednarik, Chief Analyst at FXstreet.com.