The main economic news for last week was the NFP release and the unemployment rate on Friday. The news surprised the market for the downside moved that we saw the return of risk aversion which favour the JPY.
From the high of last to the low of last Friday, a 38.2% retracement acted as resistance to early Asian session. The Daily Pivot Point also pinpoint the early resistance level. Than EURJPY retreat to the 78.6% retracement at Tokyo open (00:00 GMT). This support level supported by the monthly pivot point and the daily midpoint between the pivot point and the S1, set for EURJPY on the upside move that started at low of 133.32 moved past the pivot point and approaching the R1 at 134.63.
The recovery of EURJPY in morning Asian session indicated the market had digested last week unfavourable economic news in US.
