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EUR/JPY approaching 132.50, session tops

FXStreet (Edinburgh) - The Japanese currency remains on the defensive during the first half of the week, taking EUR/JPY to the upper end of the range near 132.50.

EUR/JPY in a tight range

The cross is navigating a narrow range following Monday’s rejection around the 133.20 area, with the persistent offered tone around the safe have JPY propping up the upside so far.

In the data space, Japanese Eco Watchers Current Survey came in a tad better during October, although market participants paid little attention to it. There are no scheduled releases in Euroland today, only speeches by V.Constancio and D.Nouy.

EUR/JPY significant levels

The cross is up 0.02% at 132.48 with the next resistance at 133.38 (61.8% Fibo of 136.44-131.49) followed by 134.44 (200-day ma) and then 135.44 (100-day sma). On the downside, a breach of 131.93 (6-month uptrend) would expose 131.49 (low Nov.6) and then 130.12 (low Jan.26).

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