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EUR/JPY remains capped by 128.00

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - EUR/JPY trades a tad higher on Monday following a volatile start to the week, having recovered from 1-week lows scored during the European trade.

    EUR/JPY bottomed out at 127.34 and bounced, climbing to a daily high of 127.93 before finding resistance and settling in a slimmer range over the last hours. At time of writing, the pair is trading at 127.87, 0.29% above its opening price.

    From a wider view, EUR/JPY continues to trade sideways, just above a 9-month low of 126.77 scored during the first week of the year, and capped by 129.10 on the upside.

    EUR/JPY technical levels

    As for technical levels, next supports are seen at 127.34/30 (Jan 18 & 11 lows), 127.00 (psychological level) and 126.77 (Jan 7 low). On the flip side, resistances could be found at 128.40 (Jan 15 high), 128.74 (Jan 14 high) and 129.08 (Jan 8 high).
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