FXStreet (Córdoba) – EUR/JPY broke below 130.30 and dropped to 130.17, reaching the lowest level since April 28. The pair remains trading near the lows, under pressure.
EUR/JPY decline continues
The pair is falling for the third day in a row and also for the seventh consecutive week. Price has approached the 130.00 area that could be an important psychological support zone; a break lower could trigger another bearish run.
The yen in among the top performers in the currency market on Tuesday, favored by risk aversion and falling government bond yields.
Technical levels
To the downside support levels might lie at 130.00 (psychological level), 129.65 (Apr 23 high) and 129.00 (Apr 22 high). On the opposite direction resistance could be located 130.65 (daily high), 131.05 (Nov 23 high) and 131.95 (daily 20-MA).
(Market News Provided by FXstreet)