29 Apr 2015
EUR/JPY losing grip of highs, down to test 132.20 support
FXStreet (Guatemala) - EUR/JPY is currently trading 132.26 with a high of 1.32.90 and a low of 130.26.
EUR/JPY has been offered with some support and buying on dips at play but leaving some longs burnt as the cross continues to make lower lows. EUR/JPY penetrated the 132 handle and found support there to current position in the 132.20's.
The theme has been with the greenback and flows are crossing through the crosses, while the euro has had some of the profits taken off the table that were gained on the GDP Q1 miss and then tapered on the FOMC's optimism that the weakness in the economy is short term. Technically the cross smashed the February lows at 132.00 and remains in bullish territory vs the 136 downtrend while 132.20 supports for now.
EUR/JPY has been offered with some support and buying on dips at play but leaving some longs burnt as the cross continues to make lower lows. EUR/JPY penetrated the 132 handle and found support there to current position in the 132.20's.
The theme has been with the greenback and flows are crossing through the crosses, while the euro has had some of the profits taken off the table that were gained on the GDP Q1 miss and then tapered on the FOMC's optimism that the weakness in the economy is short term. Technically the cross smashed the February lows at 132.00 and remains in bullish territory vs the 136 downtrend while 132.20 supports for now.