Back
6 Aug 2013
EUR/JPY unable to find ground below 130.50
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading around the 130.29 level, off recent session and weekly lows at 130.12, down -0.82% for the week so far, mostly on the back of Yen strength.
EUR/JPY further falling supported
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the EUR/JPY maintains “the negative tone seen on the weekly opening: price slide extended below the 38.2% retracement of its latest daily fall, after the upward corrective movement found a halt at the 78.6% retracement of the same rally. The hourly chart shows price below 100 and 200 SMAs, both around 130.70/80 now, as indicators head south in negative territory, supporting further falls.”
EUR/JPY key technical levels
Bednarik finds support levels at:130.00, 129.40 and 128.80, while resistance levels at: 130.70, 131.35 and 131.90.
EUR/JPY further falling supported
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, the EUR/JPY maintains “the negative tone seen on the weekly opening: price slide extended below the 38.2% retracement of its latest daily fall, after the upward corrective movement found a halt at the 78.6% retracement of the same rally. The hourly chart shows price below 100 and 200 SMAs, both around 130.70/80 now, as indicators head south in negative territory, supporting further falls.”
EUR/JPY key technical levels
Bednarik finds support levels at:130.00, 129.40 and 128.80, while resistance levels at: 130.70, 131.35 and 131.90.