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7 May 2013
Forex: EUR/JPY fails to hold above 130.00
FXstreet.com (Córdoba) - The euro weakened across the board during the American session and surrendered gains obtained during the European trade versus the yen. EUR/JPY was rejected from a high of 130.35 and dropped over 100 pips before finding support and settling in a range where it has spent the last hours.
At time of writing, EUR/JPY is quoting around 129.50, 0.2% below its opening price. As for technical levels, next supports for the cross are seen at 129.22 (daily low), 129.00 (psychological level) and 128.70 (200-hour SMA). On the upside, resistances could be found at 130.35/40 (highs May 6/7) and 130.73 (high Apr 22).
At time of writing, EUR/JPY is quoting around 129.50, 0.2% below its opening price. As for technical levels, next supports for the cross are seen at 129.22 (daily low), 129.00 (psychological level) and 128.70 (200-hour SMA). On the upside, resistances could be found at 130.35/40 (highs May 6/7) and 130.73 (high Apr 22).