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28 Aug 2013
EUR/JPY finds ground above the 130 handle
FXstreet.com (Barcelona) - The EUR/JPY foreign exchange cross rate is currently trading at 130.06, off recent fresh 1-week lows at 129.83, once has found momentary demand from USD/JPY longs above the big 97.00 figure ahead of the Tokyo open.
EUR/JPY risk to the downside persists
“Yen stands victorious after a day of run towards safety, with the EUR/JPY barely holding around 130.00 and having posted a low of 129.82, where 100 DMA offered short term support,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “However, risk to the downside persists. As for the hourly chart, price stands well below 100 and 200 SMAs while indicators head south despite in oversold territory, suggesting more downward pressure ahead, eyeing now strong static support around 128.80.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.60, 131.00 and 131.55.
EUR/JPY risk to the downside persists
“Yen stands victorious after a day of run towards safety, with the EUR/JPY barely holding around 130.00 and having posted a low of 129.82, where 100 DMA offered short term support,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “However, risk to the downside persists. As for the hourly chart, price stands well below 100 and 200 SMAs while indicators head south despite in oversold territory, suggesting more downward pressure ahead, eyeing now strong static support around 128.80.”
EUR/JPY key technical levels
Bednarik finds support levels at: 129.80, 129.35 and 128.80, while resistance levels at: 130.60, 131.00 and 131.55.