10 Jun 2013
EUR/JPY extends recovery above 130.50
FXstreet.com (Córdoba) - The EUR/JPY staged an impressive comeback on Monday as the yen remains among the worst performers in the FX space.
After falling to a 7-week low of 126.10 in the vicinity of the 100-day SMA last Friday, EUR/JPY found buyers and started a recovery that has extended over the last sessions. The cross climbed over 450 pips ever since and recently reached a high of 130.76 before pulling back.
At time of writing, EUR/JPY is trading at the 130.50 zone, where it is 1.1% above its opening price. As for technical levels, immediate resistances are seen at 130.75 (daily high) and 131.00 (psychological level), while supports could be found 129.25 and 129.00 (psychological level).
After falling to a 7-week low of 126.10 in the vicinity of the 100-day SMA last Friday, EUR/JPY found buyers and started a recovery that has extended over the last sessions. The cross climbed over 450 pips ever since and recently reached a high of 130.76 before pulling back.
At time of writing, EUR/JPY is trading at the 130.50 zone, where it is 1.1% above its opening price. As for technical levels, immediate resistances are seen at 130.75 (daily high) and 131.00 (psychological level), while supports could be found 129.25 and 129.00 (psychological level).