7 Aug 2013
EUR/JPY threatening 130.00 support
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.04, around same levels it was 1 week ago, off early London session highs at 130.72 dragged lower on Yen strength, the strongest major currency in last 2 trading days.
EUR/JPY shows a clear short term bearish tone
“The EUR/JPY had another bearish day,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows a clear bearish tone, as indicators head south in negative territory, while price develops below moving averages. In the 4 hours chart technical readings present a stronger bearish momentum, supporting a retest of the lows posted past week around 129.30.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.30 and 128.80, while resistance levels at: 130.40, 130.70 and 131.351.
EUR/JPY shows a clear short term bearish tone
“The EUR/JPY had another bearish day,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “The hourly chart shows a clear bearish tone, as indicators head south in negative territory, while price develops below moving averages. In the 4 hours chart technical readings present a stronger bearish momentum, supporting a retest of the lows posted past week around 129.30.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.90, 129.30 and 128.80, while resistance levels at: 130.40, 130.70 and 131.351.