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Forex: EUR/JPY falls to 119.50 low on Cyprus and ahead of BoJ

FXstreet.com (Barcelona) - Despite very low volumes, the EUR/JPY is at suffering on Monday as investors react to more news coming from Cyprus and take profits ahead of the BoJ meeting this week. The cross printed a high at 120.88 before falling to the 120.00 psychological level first, and then to 119.50 on European trading.

There are new indications suggesting that deposits over 100K in two Cyprus banks may be subject of more losses than the 30% tax previously thought. BoJ Governor Kuroda is expected to engage in a different approach, more dovish. Japan’s vehicle sales are gradually worse, easing from -12.2% to -15.6% in March.

On the downside, the EUR/JPY has supports at 118.99 (Feb-26 low) and 118.77 (Feb-25 low), while there is resistance at 120.88 (daily high) and 121.87 (Mar-27 high).

Forex: EUR/USD back to highs above 1.2800

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