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EUR/JPY hits fresh 6-month lows

FXStreet (Córdoba) - EUR/JPY broke below 130.30 and dropped to 130.17, reaching the lowest level since April 28. The pair remains trading near the lows, under pressure.

EUR/JPY decline continues

The pair is falling for the third day in a row and also for the seventh consecutive week. Price has approached the 130.00 area that could be an important psychological support zone; a break lower could trigger another bearish run.

The yen in among the top performers in the currency market on Tuesday, favored by risk aversion and falling government bond yields.

Technical levels

To the downside support levels might lie at 130.00 (psychological level), 129.65 (Apr 23 high) and 129.00 (Apr 22 high). On the opposite direction resistance could be located 130.65 (daily high), 131.05 (Nov 23 high) and 131.95 (daily 20-MA).

USD/JPY consolidates at weekly lows

USD/JPY found support at the 122.35 area and entered a consolidation phase, with the pair moving erratically in a slim range over the last hours as investors remain wary amid geopolitical concerns and with the greenback unable to benefit from an upward US GDP revision.
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