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EUR/JPY leveling out over the 132.00 handle

FXstreet.com (London) - EUR/JPY was mirroring the USD/JPY in this mornings buy fix with highs 132.40 but is now settling back in afternoon trade as EUR/USD is testing session lows.

The market will be looking to further outcomes in the USD/JPY and EUR/USD as the main drivers for this pair in the absence anything in the way of market moving data for the Eurozone. JGB markets will also be a focus and the effects of lower values while the stock markets in Japan are printing through the 15,000 levels for the first time in early 2008 and perhaps the value of the Yen there is coming through. The pair can target 132.40 and 132.76 as next resistance where it failed to hold to such levels yesterday. On the downside, 100 SMA 131.74 offers support.

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