6 Jun 2013
EUR/JPY sunk below 129.00
FXstreet.com (Buenos Aires) – The strong Yen momentum is weighting also on EUR/JPY that trades below the 129.00 mark, first time since May 3rd. At the time being, the pair posted a low of 128.19 and holds to a strong bearish momentum, with no aims to change bias, although pulling back towards 129.00 now immediate resistance in the short term.
Technically the pair has now a pretty clear path towards 127.90/80 area, where several daily highs and lows converge; February high around 127.65 is next support, while a break below this last, exposes the 125.00 figure, according to Valeria Bednarik, FXstreet.com chief analyst. Short term resistances according to her view come at 129.00, 129.40 and 129.80 price zone, although at current levels, she favors further falls in the EUR/JPY.
Technically the pair has now a pretty clear path towards 127.90/80 area, where several daily highs and lows converge; February high around 127.65 is next support, while a break below this last, exposes the 125.00 figure, according to Valeria Bednarik, FXstreet.com chief analyst. Short term resistances according to her view come at 129.00, 129.40 and 129.80 price zone, although at current levels, she favors further falls in the EUR/JPY.