EUR/JPY Current price: 136.61

The yen advanced against most of its rivals during previous Asian session, amid a strong slump in Chinese stocks, with the Shanghai Composite losing over 6% on the day after the China Securities Regulatory Commission decided to restrict margin lending. But the positive tone in European stocks markets eased the pressure over the safe-haven yen that turned lower across the board. In the case of the EUR/JPY, the pair advanced up to 136.81, finding short term selling interest in a bearish 100 SMA in the 1 hour chart, where indicators maintain a positive tone above their midlines. In the 4 hours chart indicators present a stronger upward momentum approaching their midlines from below, still not confirming further gains. Some follow through above the mentioned 100 SMA should support a short term advance for today, whilst below 136.20 the risk turns back to the downside.

Support levels: 136.20 135.70 135.30

Resistance levels: 136.85 137.40 137.90
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