EUR/JPY dumped below 132 on massive Yen strength

FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last trading near fresh session lows at 131.28, despite current Euro strength and broad USD weakness, given massive Yen spike at the Tokyo open following PM Abe's win in the upper house.

EUR/JPY key support at 130.90

As Valeria Bednarik, Chief Analyst at Fxstreet.com notes, EUR/JPY hourly chart shows “moving averages well below current price, with 100 SMA offering dynamic support around 130.90 and indicators and indicators holding territory. A break above mentioned high at 132.30 may see the pair running towards the 133.00 while only below 131.30 area last the pair will gain more bearish momentum and attempt an approach to the 130.20 price zone.”

EUR/JPY key technical levels

Bednarik spots support levels at 131.30 and 130.90, while resistance levels at: 132.30, 132.80 and 133.30.