EUR/JPY drops to lows at 130.40

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The Japanese yen is now regaining ground lost to the euro during the Asian trading hours, taking EUR/JPY to session lows in the 130.40 region.

    EUR/JPY attention to IFO, BoJ

    The cross is extending its weekly leg lower, already trading at shouting distance from Monday’s multi-month lows around 130.30, while the selling pressure around EUR remains unabated.

    In the data space, German IFO indicator is due later, while the BoJ minutes will take centre stage in Japan early tomorrow.

    EUR/JPY significant levels

    The cross is losing 0.13% at 130.41 and a break below 130.29 (low Nov.23) would expose 130.12 (low Jan.26) and finally 130.00 (psychological level). On the flip side, he next resistance lines up at 133.23 (high Nov.6) followed by 134.25 (200-day sma) and finally 134.94 (100-day sma).
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