FXStreet (Guatemala) – EUR/JPY is currently trading at 138.29 with a high of 136.60 and a low of 138.29.
EUR/JPY has topped over tot he downside on offers at the start of the session in Tokyo. The Yen is slightly bid, with some risk off in play while Asian stocks are lower, following suit of the overnight investment arena and mood in respect of yet further delays. There is another Eurogroup meeting scheduled this weekend while no progress has been made so far. All this coupled with some slightly better than expected CPI’s in Japan leaves the risk in the cross to the downside for the session.
EUR/JPY bears eye key support
EUR/JPY continues to be offered below the 140.70/141.06 resistance and this keeps the focus to the underlying support and in particular to the 2 month uptrend and 200 day ma at 138.04/137.32. As explained by Karen Jones, chief analyst at Commerzbank. “A close below here will cause the chart picture to deteriorate. Failure here will trigger losses towards the 134.57 55 day ma. Very near term we would allow for a small rally from here but look for failure ahead of 140.70/141.06.”
(Market News Provided by FXstreet)