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Forex: EUR/JPY falls to 129.00

FXstreet.com (San Francisco) - The Euro is currently trading lower against the Japanese Yen with the EUR/JPY extending its decline from the intra-day high at 129.80 to test the 129.00 region. The pair has accelerated losses following the abysmal US durable goods orders in March and it has declined around 35 pips in the latest few minutes.

Orders for US long-lasting goods have contracted 5.7% MoM during March, missing expectations at -2.8%, and down from 4.3% (revised) in February.

Currently the pair is trading at 129.20, almost flat on the day. EUR/JPY is trading slightly bearish according to the FXstreet.com trend index with indicators such as CCI and Momentum pointing lower while the MACD going neutral and the Stochastic signaling bullish in the 15-minute chart.

Below the 129.00 level, next supports are at 128.80 and 128.30. On the upside, resistances are at 129.40, 129.60 and 129.80.

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