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11 Jun 2013
EUR/JPY steadies above 128.50 after sharp fall
FXstreet.com (Córdoba) - The EUR/JPY has continued to lose ground during the European session given yen's broad strength following BoJ decision to stay on hold.
Having dropped over 300 pips and broken below several support levels at 129.50, 129.00 and 128.50, EUR/JPY stretched to a 4-day low of 128.11 before bouncing a tad and settling in a range.
At time of writing, EUR/JPY is trading at the 128.50/60 zone, where it posts a 1.8% daily loss. In terms of technical levels, on the downside immediate supports could be faced at 128.11 (daily low) and 127.45 (Jun 6 low). On the other hand, resistances are now seen at 129.00 and 129.50 (former support levels).
Having dropped over 300 pips and broken below several support levels at 129.50, 129.00 and 128.50, EUR/JPY stretched to a 4-day low of 128.11 before bouncing a tad and settling in a range.
At time of writing, EUR/JPY is trading at the 128.50/60 zone, where it posts a 1.8% daily loss. In terms of technical levels, on the downside immediate supports could be faced at 128.11 (daily low) and 127.45 (Jun 6 low). On the other hand, resistances are now seen at 129.00 and 129.50 (former support levels).