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8 May 2013
Forex: EUR/JPY holds resistance at 130.40
FXstreet.com (Córdoba) - The euro has continued to move higher versus the yen and printed a marginal new high during the American session, underpinned by strong German data.
EUR/JPY reached an over 2-week peak of 130.41, marginally higher than its previous high, but failed to break decisively above that level and retreated somewhat within the last hours. At time of writing, the cross is trading around 130.20, recording a 0.6% daily rise.
As for technical levels, if EUR/JPY extends gains above 130.40, next resistances could be faced at 130.65 (high Apr 22) and 131.10 (high Apr 11). On the downside, supports might be faced at 129.40 (100-hour SMA) and 129.00 (psychological level).
EUR/JPY reached an over 2-week peak of 130.41, marginally higher than its previous high, but failed to break decisively above that level and retreated somewhat within the last hours. At time of writing, the cross is trading around 130.20, recording a 0.6% daily rise.
As for technical levels, if EUR/JPY extends gains above 130.40, next resistances could be faced at 130.65 (high Apr 22) and 131.10 (high Apr 11). On the downside, supports might be faced at 129.40 (100-hour SMA) and 129.00 (psychological level).