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May 27, 2013
EUR/JPY entrenched in negative territory at 130.61/63
FXstreet.com (Barcelona) - The EUR/JPY has faced headwinds today, helped in part by the fortification of the JPY to start off the week.
In these moments, the EUR/JPY is now trading at 130.61/63 following the publication of economic data in the United States. According to the Technical Analyst Team at ICN.com, “The EUR/JPY has tentatively broken the ascending support for the rising wedge, in addition to 131.10 horizontal support. Holding for another day below this area (131.00) should confirm further downside, targeting mainly the 50-days SMA around 127.70.”
At the time of writing, the EUR/JPY has waned a slight -0.06% Monday during European trading. Mataf.net analysts calculate the next short-term support levels for the EUR/JPY at 129.41, then 128.50, and finally 126.92. On the ascension, resistive structures will activate at 131.90, onto 133.48, and finally 134.39.
In these moments, the EUR/JPY is now trading at 130.61/63 following the publication of economic data in the United States. According to the Technical Analyst Team at ICN.com, “The EUR/JPY has tentatively broken the ascending support for the rising wedge, in addition to 131.10 horizontal support. Holding for another day below this area (131.00) should confirm further downside, targeting mainly the 50-days SMA around 127.70.”
At the time of writing, the EUR/JPY has waned a slight -0.06% Monday during European trading. Mataf.net analysts calculate the next short-term support levels for the EUR/JPY at 129.41, then 128.50, and finally 126.92. On the ascension, resistive structures will activate at 131.90, onto 133.48, and finally 134.39.