7 Aug 2013
EUR/JPY continues to open up fresh losses
FXstreet.com (New York) - The EUR/JPY technical cross has refused to move back towards the 129.00 region Wednesday, instead taking a diver lower.
With the BoJ looming tomorrow morning, the EUR/JPY is presently negotiating a loss of -1.06% off it’s opening, though it is now operating at 128.64 (earlier lows were recorded at 128.47). In terms of the technical levels, after an earlier drop below support at 128.90, the next measure of support will activate at 128.36, ahead of 127.99, notes the Mataf.net analyst team.
EUR/JPY strategic bias
According to the TD Securities Team, “The EUR/JPY has eroded a minor trend line at 130.00 and the top of the cloud at 129.38. Failure here will suggest a slide to the base of the cloud at 128.69. We need a close registered below here to re-target the 124.94 June low.
With the BoJ looming tomorrow morning, the EUR/JPY is presently negotiating a loss of -1.06% off it’s opening, though it is now operating at 128.64 (earlier lows were recorded at 128.47). In terms of the technical levels, after an earlier drop below support at 128.90, the next measure of support will activate at 128.36, ahead of 127.99, notes the Mataf.net analyst team.
EUR/JPY strategic bias
According to the TD Securities Team, “The EUR/JPY has eroded a minor trend line at 130.00 and the top of the cloud at 129.38. Failure here will suggest a slide to the base of the cloud at 128.69. We need a close registered below here to re-target the 124.94 June low.