12 Jul 2013
EUR/JPY meets buyers ahead of 129.20
FXstreet.com (Barcelona) - The EURJPY foreign exchange cross rate is last trading at 129.54, off recent session lows at 129.17, bouncing firmly from there following the Tokyo open, mostly on Yen weakness.
EUR/JPY with definite bearish bias
“I’m short this pair, having sold some more this morning, and I’m expecting to see some very choppy trade between 127/131 on the wide before we get a sharp break lower,” said FXWW founder Sean Lee, adding: “Let’s hope we get plenty of range trading and some good chances to build a decent sized possy.”
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at previous session highs 129.76, followed by July 02 lows at 129.83, and Monday's highs at 130.19. To the downside, closest support lies at Monday's lows 129.38, followed by July 04 lows at 128.80, and July 03/05/yesterday's lows at 128.60.
EUR/JPY with definite bearish bias
“I’m short this pair, having sold some more this morning, and I’m expecting to see some very choppy trade between 127/131 on the wide before we get a sharp break lower,” said FXWW founder Sean Lee, adding: “Let’s hope we get plenty of range trading and some good chances to build a decent sized possy.”
EUR/JPY key technical levels
Immediate resistance to the upside for EUR/JPY shows at previous session highs 129.76, followed by July 02 lows at 129.83, and Monday's highs at 130.19. To the downside, closest support lies at Monday's lows 129.38, followed by July 04 lows at 128.80, and July 03/05/yesterday's lows at 128.60.