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EUR/JPY edges lower towards 130.63/66

FXstreet.com (Barcelona) - The EUR/JPY has fallen rapidly during the overnight and European sessions today, following a recovery of the JPY against virtually all majors.

According to the ICN.com Technical Analyst Team, “The EUR/JPY touched our entry level at 131.00-131.10 broken support, activating our short setup. The broken support at 131.10 should turn into a resistance now.”

At the time of writing, the pair is now settling at 130.63/66, incurring a massive loss of -1.45% Thursday. After falling below support at 131.86 and 130.98, the EUR/JPY will face additional support at 130.00. On the ascension, a movement above 133.72 will initiate resistive structures at 134.70 onto 135.58 notes the Mataf.net analyst team.

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