23 Jul 2013
EUR/JPY takes stops out below the 131 handle
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last trading at 131.01 bids, off recent session and weekly lows at 130.81, on the back of a USD sell off in the DXY index, driven mostly on Yen strength, through the USD/JPY pair, taking with it other Yen crosses
EUR/JPY lower on Yen strength
According to market sources the move has taken out stops losses below the 131.00 support. The move lower has come completely from Yen strength, minutes before Tokyo opens, in a session ahead with a blanc economic calendar, as EUR/USD has remained unchanged in same time period. The cross is still up +15.32% year to date, +10.86% in last 6 months, and +1.1% in last month according to Reuters.
EUR/JPY key technical levels
Immediate support to the downside for EUR/JPY lies at recent session/weekly lows 130.81, followed by July 09 highs at 130.56, and July 11 highs/past Wednesday's lows at 130.44/31. To the upside, closest resistance shows at yesterday's/Friday's lows 131.12/19, followed by July 17 highs at 131.37, and London session highs at 131.87.
EUR/JPY lower on Yen strength
According to market sources the move has taken out stops losses below the 131.00 support. The move lower has come completely from Yen strength, minutes before Tokyo opens, in a session ahead with a blanc economic calendar, as EUR/USD has remained unchanged in same time period. The cross is still up +15.32% year to date, +10.86% in last 6 months, and +1.1% in last month according to Reuters.
EUR/JPY key technical levels
Immediate support to the downside for EUR/JPY lies at recent session/weekly lows 130.81, followed by July 09 highs at 130.56, and July 11 highs/past Wednesday's lows at 130.44/31. To the upside, closest resistance shows at yesterday's/Friday's lows 131.12/19, followed by July 17 highs at 131.37, and London session highs at 131.87.