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Forex: EUR/JPY extends gains to 130.00

FXstreet.com (Córdoba) - The yen weakened on Friday, with the euro extending gains to 130.00, after Japan's Finance Minister Aso said on Thursday the G20 has understand that Japan's monetary easing is aimed at beating deflation and not at weakening the yen.

EUR/JPY rose over 200 pips throughout the day and hit a high of 130.03 before the rally lost steam. At time of writing, EUR/JPY is trading around 129.80, where it is 1.4% above its opening price.

As for technical levels, if EUR/JPY manages to break decisively above the 130.00 area, next resistances are seen at 130.80 (high Apr 12) and 131.10 (2013 high Apr 11). On the downside, supports could be found at 129.00 (psychological level and 200-hour SMA), followed by 128.05 (intraday low).

Forex Flash: AUD/USD negative outlook towards 1.0204/16 and 1.0116 – Commerzbank

The AUD/USD left “the outlook negative following its recent ‘return to point of break out’ ( i.e retested the previous channel). This together with the 200 day ma offers resistance at 1.0398/1.0431”, according to Commerzbank analysts, expecting a directly offered market while capped there. “We should see a slide to 1.0204/16, the 11th March low and 78.6% retracement en route to the 1.0116 recent low. The 1.0116/00 represents the bottom of a 9 month range and break down from here will be significant”, wrote analyst Karen Jones, targeting the 0.9840/27 zone – the 2011-2013 support line and the 200 week ma longer term.
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