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15 Jul 2013
EUR/JPY continues to trade positively after easing
FXstreet.com (New York) - The EUR/JPY technical cross continued to give back a large portion of its earlier gains Monday, having topped out at the 130.74 level (intraday high) earlier today.
Technically speaking, the EUR/JPY is trading presently at 130.30, and despite the general easing during US trading, has managed to hold onto a gain of +0.24% at the time of writing. Following an earlier rise above calculated resistance at 130.13, the Mataf.net analyst team posits the next short-term resistances at 130.56, onto 131.18. The impending situation in Portugal continues to take center stage Monday, and any further setbacks could lead to a tumble of the EUR.
EUR/JPY strategic bias
According to ICN.com Technical Analyst Team, “The EUR/JPY is still under the influence of the sideways trading range, with the support at 128.65 and the resistance at 130.30. We are still waiting for the pair price to overcome one of these two levels to specify an intraday direction. Hereon, we will stay neutral until the upcoming movement is defined.”
Technically speaking, the EUR/JPY is trading presently at 130.30, and despite the general easing during US trading, has managed to hold onto a gain of +0.24% at the time of writing. Following an earlier rise above calculated resistance at 130.13, the Mataf.net analyst team posits the next short-term resistances at 130.56, onto 131.18. The impending situation in Portugal continues to take center stage Monday, and any further setbacks could lead to a tumble of the EUR.
EUR/JPY strategic bias
According to ICN.com Technical Analyst Team, “The EUR/JPY is still under the influence of the sideways trading range, with the support at 128.65 and the resistance at 130.30. We are still waiting for the pair price to overcome one of these two levels to specify an intraday direction. Hereon, we will stay neutral until the upcoming movement is defined.”