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EUR/JPY dealing with 130.00 bids

FXstreet.com (Barcelona) - EUR/JPY is last at 130.08, off recent session highs at 130.48 as Yen has been pull backing recent gains. Yen weakness have topped there as Tokyo markets have opened with more selling on Nikkei index which is last down another -1.5% of extra losses.

According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows moving averages gaining bearish slope above current price, as indicators correct oversold readings, while the  4 hours chart shows an increasing bearish momentum that supports a test of key 128.80 support for these days,” the analyst says, adding: “Expect sellers now on approaches to the 131.00 area.”

Valeria finds support levels at: 129.50, 129.20 and 128.80, while resistance levels at: 130.40, 131.00 and 131.50.

Kiwi consolidates gains below 0.8100

The Kiwi finished the day sharply higher, retracing all of last Friday’s losses and finishing up 130 pips at 0.8098. Economic data out of NZD will be light in the coming session, but market participants should be aware of the RBA rate decision due out at 4:30GMT which may influence the pair.
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