Back
1 May 2013
Forex: EUR/JPY flat after rejection from 128.90
FXstreet.com (Córdoba) - The euro failed to sustain gains against the yen during the New York session, and after the latest bullish attempt was capped by the 200-hour SMA around 128.90, EUR/JPY turned lower and retraced its advance.
EUR/JPY fell back to the 128.05 area before the setback was contained and it was last trading flat on the day around 128.25/30.
As for technical levels, immediate supports could be faced at 128.00 (psychological level) and 127.80 (daily low), while resistances are seen at 128.90 (daily high/200-hour SMA) and 129.35 (high Apr 26).
EUR/JPY fell back to the 128.05 area before the setback was contained and it was last trading flat on the day around 128.25/30.
As for technical levels, immediate supports could be faced at 128.00 (psychological level) and 127.80 (daily low), while resistances are seen at 128.90 (daily high/200-hour SMA) and 129.35 (high Apr 26).