EUR/JPY plunges to 132.78 lows

FXstreet.com (Chicago) - EUR/JPY fell on heavy bearish pressure after the Nikkei, opening up 0.60% failed to sustain performance to fall to -0.06% strengthening the yen against the euro.

Technically speaking, the pair trades at 132.83 navigating close to the immediate support at 132.79 (October 14th lows) that if broken will face 132.40 (September 13th highs) ahead of 131.67 (September 29th lows). On the upside, resistances are aligned at 133.35 (November 4th highs), 133.82 (October 25th lows) and 134.24 (October 28th lows). Primary, secondary and short-term trends confirm bearish momentum as the pair falls back around last Friday’s lows.