2 Sep 2013
EUR/JPY struggling to get over 130
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.03 off recent session highs at 130.16 capped to the upside for second time so far in the current session despite initial Yen weakness and Nikkei up +0.76%.
EUR/JPY maintains a slightly bearish tone
“Yen crosses gap to the upside on easing risk aversion, although the EUR/JPY maintains a slightly bearish tone as per trading well below its moving averages in the hourly chart: 100 one stands now around 130.20 acting as immediate short term resistance, while 200 one stands near 131.00,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “only above mentioned 130.20 the pair may have chances to extend the upside. The 4 hours chart shows indicators correcting higher but still in negative territory which helps keep the upside limited.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.20, 130.60 and 131.00.
EUR/JPY maintains a slightly bearish tone
“Yen crosses gap to the upside on easing risk aversion, although the EUR/JPY maintains a slightly bearish tone as per trading well below its moving averages in the hourly chart: 100 one stands now around 130.20 acting as immediate short term resistance, while 200 one stands near 131.00,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “only above mentioned 130.20 the pair may have chances to extend the upside. The 4 hours chart shows indicators correcting higher but still in negative territory which helps keep the upside limited.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.20, 130.60 and 131.00.