22 Jul 2013
EUR/JPY falls out 132.00 level
FXstreet.com (New York) - The EUR/JPY technical cross fell off the 132.00 region Monday morning, falling lower into the depths of 130.61 (session low) recently.
Technically speaking, the EUR/JPY is entrenched in negative territory at 131.71, still down -0.18%. The EUR/JPY cross is currently trading at support at 131.60 (55-day MA and 50-day SMA convergence), ahead of 131.39 (200-day SMA).
EUR/JPY strategic bias
The Japanese elections on the weekend have seen the ruling Liberal Democratic party win comfortably, strengthening the position of PM Abe, who now controls both chambers of Parliament. With the result mostly expected, the JPY has thus far refrained from any sweeping movements across the board.
Technically speaking, the EUR/JPY is entrenched in negative territory at 131.71, still down -0.18%. The EUR/JPY cross is currently trading at support at 131.60 (55-day MA and 50-day SMA convergence), ahead of 131.39 (200-day SMA).
EUR/JPY strategic bias
The Japanese elections on the weekend have seen the ruling Liberal Democratic party win comfortably, strengthening the position of PM Abe, who now controls both chambers of Parliament. With the result mostly expected, the JPY has thus far refrained from any sweeping movements across the board.