EUR/JPY recording fresh lows at 129.66/68

FXstreet.com (Barcelona) - The EUR/JPY is in free fall mode, notching fresh session lows during US trading in the depths of 129.66/68 in these moments.

Following a break below the 129.91 support, Mataf.net analysts calculate additional measures of fortification for the EUR/JPY at 129.19, ahead of 128.10. On the ascension, a break above the 131.72 handle will initiate resistance at 132.81 and 133.53. Presently, the cross is incurring a stanch decline of -0.57% during US trading.

According to the Technical Analyst Team at ICN.com, “The EUR/JPY is holding below 131.70 broken horizontal support, after breaking the ascending support for the rising wedge pattern shown on image. Accordingly, a continuation of the latest bearish sell-off seems likely, so long as price is holding below 131.70 over daily closing basis. We recommend a target start at the 50-day SMA near 128.50.”