29 Jul 2013
EUR/JPY pointing lower on Yen strength
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.30, off recent session lows at 130.14, slightly in the negative for the session so far mostly on the back of Yen strength.
EUR/JPY bearish in mid and short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, EUR/JPY is “maintaining a bearish tone both in the short and the longer term. The hourly chart shows price well below moving averages and indicators heading lower in negative territory, supporting a retest of Friday low of 130.00; a break below this last should signal a stronger bearish continuation, eyeing the 128.80 level.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.00, 129.40 and 128.80, while resistance levels at: 130.60, 131.00 and 131.70.
EUR/JPY bearish in mid and short term
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, EUR/JPY is “maintaining a bearish tone both in the short and the longer term. The hourly chart shows price well below moving averages and indicators heading lower in negative territory, supporting a retest of Friday low of 130.00; a break below this last should signal a stronger bearish continuation, eyeing the 128.80 level.”
EUR/JPY key technical levels
Bednarik finds support levels at: 130.00, 129.40 and 128.80, while resistance levels at: 130.60, 131.00 and 131.70.