24 Jun 2013
EUR/JPY supported 128.20
FXstreet.com (London) - EUR/JPY has yet again shown its resilience at 128.20 throughout the early European session.
Last week, EUR/JPY had been testing to the downside after the FOMC comments took the pair down from 129.80. On Friday Asia shift, The Yen was abandoned which enabled the cross to find a short-lived welcome back towards last weeks highs and previously broken ascending support line on the daily chart. However, London offers saw to it that the pair would yet again be sold off below the figure and away from the 50-day SMA. It has been kept on the back foot with yet further pressure in a broad based dollar rally and a benign German IFO this morning.
EUR/JPY bearish indicators
The EURJPY is trading heavily and the technicals look bearish, now trading below the pivot. A Bearish shooting star candlestick had formed last week which indicates that this bearish play may continue to threaten the support line and SMA100 opening up 127.30 and March highs.
Last week, EUR/JPY had been testing to the downside after the FOMC comments took the pair down from 129.80. On Friday Asia shift, The Yen was abandoned which enabled the cross to find a short-lived welcome back towards last weeks highs and previously broken ascending support line on the daily chart. However, London offers saw to it that the pair would yet again be sold off below the figure and away from the 50-day SMA. It has been kept on the back foot with yet further pressure in a broad based dollar rally and a benign German IFO this morning.
EUR/JPY bearish indicators
The EURJPY is trading heavily and the technicals look bearish, now trading below the pivot. A Bearish shooting star candlestick had formed last week which indicates that this bearish play may continue to threaten the support line and SMA100 opening up 127.30 and March highs.