11 Jul 2013
EUR/JPY pressing against 130 resistance
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last trading at 129.96 bids, off recent session highs at 129.99, on the back of massive Euro strength, even though Yen is also showing strength against a very weak USD across the board.
EUR/JPY higher on Euro strength
Market moves are currently being very sharp, following recent FED Bernanke's comments, pointing out to the possibility of not starting to taper on QE as hard and as fast as many market participants would have earlier thought. USD/JPY has sunk to near the 98 handle, while EUR/USD is pushing above the 1.3150 level.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at Monday's lows 130.18, followed by Tuesday's weekly highs at 130.57, and July 02 highs at 131.12. To the downside, closest support lies at Monday's lows 129.40, followed by July 03 lows at 128.64, and July 10 lows at 127.99.
EUR/JPY higher on Euro strength
Market moves are currently being very sharp, following recent FED Bernanke's comments, pointing out to the possibility of not starting to taper on QE as hard and as fast as many market participants would have earlier thought. USD/JPY has sunk to near the 98 handle, while EUR/USD is pushing above the 1.3150 level.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at Monday's lows 130.18, followed by Tuesday's weekly highs at 130.57, and July 02 highs at 131.12. To the downside, closest support lies at Monday's lows 129.40, followed by July 03 lows at 128.64, and July 10 lows at 127.99.