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Forex: EUR/JPY printed session low 131.18

FXstreet.com (London) - EUR/JPY has dropped well blow the 132.00 handle in the US open after worse than expected US data and with the EUR recording significant gains on the dollar.

EUR/JPY was mirroring the USD/JPY in this mornings buy fix with highs 132.40 and had been settling back in afternoon trade as EUR/USD was testing session lows. It has fallen through the support at 131.70 and SMA’s 100 and 200 levels, where EMA5 now offers as a support in the 131.50 territory. The pair has not reached the psychological figure, 131.00 yet. 131.00 would act as support where the bullish flag began on Thursday of last week. 132.00 and 131.70 come in as resistance. The market will be continuing to look for 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 for the time being.

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