11 Jul 2013
EUR/JPY around 130 flat for the week so far
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is last trading at 130.02, off recent session highs at 130.40, printed on the back of massive Euro strength following FED Bernanke's comments.
EUR/JPY still could see wild swings
“I really like the risk reward in being short near 130.25/50 with a 100 pip stop looking for 127.00,” said FXWW founder Sean Lee, adding: “I’m keeping the position small for now as we still could see some wild swings.” The cross is about flat for the week so far, ahead of key risk event of the day for Yen in the form of BoJ meeting later on in next few minutes.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at mentioned session highs 130.40, followed by Tuesday's weekly highs at 130.55, and July 02 highs at 131.12. To the downside, closest support lies at Monday's lows 129.40, followed by Tuesday's lows at 128.70, and July 03/05 lows at 128.60/55.
EUR/JPY still could see wild swings
“I really like the risk reward in being short near 130.25/50 with a 100 pip stop looking for 127.00,” said FXWW founder Sean Lee, adding: “I’m keeping the position small for now as we still could see some wild swings.” The cross is about flat for the week so far, ahead of key risk event of the day for Yen in the form of BoJ meeting later on in next few minutes.
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at mentioned session highs 130.40, followed by Tuesday's weekly highs at 130.55, and July 02 highs at 131.12. To the downside, closest support lies at Monday's lows 129.40, followed by Tuesday's lows at 128.70, and July 03/05 lows at 128.60/55.