EUR/JPY shaken by radiation; held by 130.40 after plunge

FXstreet.com (Chicago) - EUR/JPY reacted to the potential announcement of an increment of the Japanese radiation alert to level 3, dragging the Nikkei from 0.60% to -0.25% within minutes as market participants take action on news.

Radiation alert

The Fukushima leak in Japan may be raised to level 3 as the damages and severity of the incident continue worsening.

Impulsive reaction


Price action indicates a steep fall counter weighted by immediate support at 130.42 (August 17th highs) ahead of 130.13 (August 6th highs) and 129.90 (August 18th lows). On the upside, resistances are set at 130.74 (August 14th highs), 131.03 (August 18th highs) followed by 131.28 (August 2nd lows). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis, trading at 130.46 and above EMA20.