Currency Analyst since 2010

EUR/JPY remains vulnerable

EUR/JPY has made s significant decline this week sliding from Tuesday’s high above 131.00 to the levels below 126.00. The pair breached support line from November.

The prices are now trying to hold above 125.00 (bottom of the daily Ichimoku Cloud). The break of this level will be a bearish sign which may cause a decline to the 119 area.

Support lies at 124.90 (April 6 low), 124.50 (23.6% Fibo of the advance from July 2012) and 123.30 (2011 high). Resistance lies at 126.50 and 129.00.

Chart. Daily EUR/JPY

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