2 Jul 2013
EUR/JPY eases below 131.00
FXstreet.com (New York) - The EUR/JPY technical cross peaked earlier at the 131.15 level (intraday high), only to recently give back a portion of its gains during US trading.
EUR/JPY still trading above resistance
The EUR/JPY is presently still operating positively at a healthy +0.51% in these moments, having settled at 130.90 in these moments. After breaching resistance at 130.70, the Danske Research Team identified further levels of correction at 131.30. Conversely, supports are found at 129.89, ahead of 129.65.
EUR/JPY negative bias below 131.30
According to Axel Rudolph, an analyst at Commerzbank, “The EUR/JPY has not only overcome the 55-day MA at 129.65 but also the 129.90 late June high and probes the 130.00 region. The near-term strength has not dislodged anything of note and the market will maintain a negative bias while trading below the 131.30 level (June 11 high).
EUR/JPY still trading above resistance
The EUR/JPY is presently still operating positively at a healthy +0.51% in these moments, having settled at 130.90 in these moments. After breaching resistance at 130.70, the Danske Research Team identified further levels of correction at 131.30. Conversely, supports are found at 129.89, ahead of 129.65.
EUR/JPY negative bias below 131.30
According to Axel Rudolph, an analyst at Commerzbank, “The EUR/JPY has not only overcome the 55-day MA at 129.65 but also the 129.90 late June high and probes the 130.00 region. The near-term strength has not dislodged anything of note and the market will maintain a negative bias while trading below the 131.30 level (June 11 high).